NJ AG joins others in the state to call for $50,000 in student loan forgiveness
New Jersey Attorney General Gurbir Grewal and others in the state are urging the federal government to allow for $50,000 in student loan debt cancelled.
State legislators wrote a letter to the federal government amid pressure from Senate Democrats to forgive at least $50,000.
President Joe Biden says he is willing to write off $10,000 for all borrowers, but not $50,000.
“I will not make that happen,” Biden says. “It depends onw whether you go to a private university or public university. It depends on the idea that I say to a community that I’m going to forgive the debt, the billions of dollars of debt, for people who have gone to Harvard and Yale and Penn.”
Currently around 8 million borrowers are in debt.
More than a third owe less than $10,000.