Student Loans in an Evolving Economy – The Daily Utah Chronicle
Student loans have recently sparked controversy in Congress and across the nation as Democrats push for the cancellation of student loan debt up to $50,000, while Republicans oppose said cancellation.
Top Democrats in Congress have claimed it would close the wage gap between racial groups. On Feb. 17, Senate Majority Leader Chuck Schumer tweeted “It would help close the racial wealth gap, and give a big boost to families and our economy.” Democrats claim President Joe Biden has executive authority to cancel student debt without the approval of Congress.“This is something the President can do, and Leader Schumer and I are pushing hard to try to get it done,” Senator Elizabeth Warren told the Washington Post.
Republicans oppose Democrats, claiming the cancellation of student debt is a poorly targeted movement. They claim those who hold most of the student loan debt in the United States are professionals, thus furthering…
