Rep. Ilhan Omar Urges Biden to Cancel $50,000 of Student Debt Per Person

Rep. Ilhan Omar (D-MN-05) has introduced a “bold resolution” asking President-elect Joe Biden to federally remove $50,000 of student loan debt per person.

The congress member introduced the resolution alongside Reps. Ayanna Pressley, Maxine Waters, and Alma Adams. The resolution outlines a path for Biden to use “excessive authority” to remove student loan debt while simultaneously ensuring there are no tax liabilities for federal student loan borrowers.

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Commentary: Loan Reform Requires Colleges With Skin in the Game

President Trump’s recent budget proposal calls for reforms to the federal student loan program, so that colleges that “accept taxpayer funds have skin in the game through a student loan risk-sharing program.” Certainly, a change in the student loan program is long overdue.

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Commentary: Forgiving Student Debt Isn’t the Solution to Anything

by Preston Cooper   The time-honored American tradition of outlandish political promises continues apace. Now, the spotlight is on student debt. Democratic presidential candidate Elizabeth Warren added to the debate recently when she put forward a proposal to cancel $640 billion worth of federal and private student loans. Warren touts…

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Federal Report Says Millennials Are Poorer Than Other Generations

by Ryan McMaken   One of the challenges in looking at income and wealth data is getting a sense of how different demographic groups are affected. It’s relatively easy to find median income and wealth data over time for the entire population, for example. But then problems of interpretation immediately…

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