January 26, 2022

Correa Urges Biden to Cancel $50,000 in Student Loan Debt

Washington, D.C. — Today, Congressman Lou Correa (CA-46) joined Representatives Pramila Jayapal (WA-07), Ayanna Pressley (MA-07), Katie Porter (CA-45), and Ilhan Omar (MN-05), Senator Elizabeth Warren (D-MA), Senate Majority Leader Chuck Schumer (D-NY) and 79 colleagues in urging President Biden to cancel up to $50,000 in student loan debt. In a letter, the Members also thank the President for extending the moratorium on student loan repayments and requests that he release the drafted student loan debt memo outlining the President’s authority to cancel outstanding student loan debts. 


Rep. Lou Correa said, “The GI bill paved the way for a generation to attend college and achieve their American Dream. It’s time for this generation to have the same opportunity.  We must cancel student debt, and allow this generation of students—the most diverse in America’s history—to fulfill theirs without this crushing burden.” 


Full text letter here.

Background: In California’s 46th Congressional District (https://hef.jfiresearch.org/millennial-student-debt/), the median student loan balance ($13,326) is just over 50% of the median income in the district ($26,377), meaning borrowers are often trapped in a never-ending repayment cycle. 




Rep. Lou Correa represents California’s 46th Congressional District.