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Home›Debt relief›Nation’s largest labor federation calls on Biden to cancel student debt: ‘We can’t ask workers to make further sacrifices’

Nation’s largest labor federation calls on Biden to cancel student debt: ‘We can’t ask workers to make further sacrifices’

By Paula Torr
May 12, 2022
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The largest labor federation in the United States has just joined the fight to cancel student loans.

On Thursday, AFL-CIO President Liz Shuler called on President Joe Biden to enact broad debt cancellation for federal borrowers. As Biden moves closer to making a decision on loan relief, she is the latest lawyer to push the president to provide permanent relief to borrowers before payments resume after Aug. 31.

“Organized labor was built on the foundation of creating a path to the middle class for everyone, but skyrocketing student debt has become an insurmountable obstacle to achieving that goal,” wrote Shuler on Twitter.

She added that while the pause in student loan repayments has made “a huge difference” for many borrowers, “we can’t ask workers to make more sacrifices.”

“Now is the time to cancel, not collect, student debt,” she said.

The AFL-CIO has 12.5 million members in 57 unions. The federation gained increased prominence amid a wave of organization. Biden has been a strong supporter of organized labor, saying he intends to be “the most pro-union president to head the most pro-union administration in American history.”

At this time, it is unclear what student loan relief Biden will decide on. He recently Told to reporters that he is not planning to write off a $50,000 debt, an amount that many progressive lawmakers have demanded and his publicist Jen Psaki confirmed any relief will be targeted to those earning less than $125,000 a year.

Despite Republican critical In broad relief, arguing that it will cost taxpayers and the economy, many Democrats argued that canceling student debt would help borrowers and allow them to pump money back into the economy. Treasury Secretary Janet Yellen Told senators at a hearing this week that debt cancellation “could be good for the economy.”

“I agree that student debt is a substantial burden for many people,” Yellen said. “They didn’t graduate or end up with advanced skills that allow them to do well in the job market.”

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