Warren and Clyburn host Student Loan Debt Relief Town Hall at SC State
ORANGEBURG,SC (WOLO)- A US congressman from South Carolina has jumped on board with a democratic plan to cancel student loan for millions of Americans.
Presidential candidate Elizabeth Warren brought her plan to the state Wednesday night alongside Congressman James Clyburn; addressing what they call a growing crisis
Both democrats say they want to take on student loan debt. Warren and Clyburn introduced the Student Loan Debt Relief Act, which would help repair credit for borrowers and cancel $50,000 in student loan debt for many Americans. It would cancel less debt if a household makes more than $100,000.
“We’re talking about eliminating some of it, not all of it,” Clyburn said. “And then making some of it loans to allow you to be able to pay it back and address the whole issue of bankruptcy.”
Warren spoke at SC State specifically addressing the crisis’ impact on black and latinx Americans saying many black borrowers still owe more than 100% of their loan balance even 12 years after graduating.
“So we’re not only crushing an entire generation under the weight of student loan debet,” Warren said. “We are disproportionately crushing a generation of students of color. That is not how a country builds a future and we got to change that.”
Warren and Clyburn answered questions from students and people in the community about jobs, climate change and their the loan relief act.
Not only are loans on the agenda, but both Warren and Clyburn say they want to invest in HBCUs.
“I think it’s time we equalize the resources and put real money in our hbcus,” Warren said.