New Bill Could Pave the Way Toward Banning Student Debt Cancellation
New Bill Could Pave the Way Toward Banning Student Debt Cancellation
Forty-five million student debtors need to see this and get very, very loud," the Debt Collective said.
*Campaigners have issued a “red alert” over language included in the 2024 Federal Aviation Administration Reauthorization Act that could pave the way toward banning student loan cancellation.
The current draft of the routine bill bars executive branch officials from cancelling or forgiving student loans taken out to pursue flight training or education at the undergraduate level, the Debt Collective warned on Wednesday.
“They’re trying to make relief illegal,” the group posted on social media.
Buried 1,000 pages in, the language flagged by the Debt Collective comes under the heading, “Prohibition on mass cancellation of eligible undergraduate flight education and training programs loans.”
“The secretary, the secretary of the treasury, or the attorney general may not take any action to cancel or forgive the outstanding balances, or portion of balances, on any federal direct unsubsidized Stafford loan, or otherwise modify the terms or conditions of a federal direct unsubsidized Stafford loan, made to an eligible student, except as authorized by an act of Congress,” the text reads.
read more: https://truthout.org/articles/new-bill-could-pave-the-way-toward-banning-student-debt-cancellation/
“We can’t have Plebians becoming educated, without racking up crippling debt”.