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New presidential administration will likely bring some student loan debt cancellation
As a new presidential administration takes office, Massachusetts Senator Elizabeth Warren hopes to cancel some student loan debt. Canceling that debt would impact about 40 percent of Brandeis students students who rely on federal loans to pay Brandeis’ higher than average tuition.
The federal government has paused payments and involuntary collections on federal student loans due to the coronavirus pandemic a rule that was set to expire Jan. 31, but one President-elect Joseph Biden will extend when he assumes office. As the pandemic has caused job losses and an economic slowdown, Warren renewed her calls for debt cancellation in a Dec. 7 virtual meeting with student journalists across the country.