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Biden To Review Executive Authority To Cancel Student Debt

Washington, DC - President Joe Biden has asked Education Secretary Miguel Cardona to prepare a memo about his legal authority to cancel student debt, chief of staff Ron Klain said Thursday, as pressure grows for the administration to address the student loan crisis crippling millions of Americans. Klain said in an interview with Politico that Biden will decide how to proceed once he reviews the memo, which could be sent to his desk in the next few weeks. "He'll look at that legal authority, he'll look at the policy issues around that, and then he'll make a decision," Klain said. "He hasn't made a decision on that either way. In fact, he hasn't yet gotten the memos that he needs to start to focus on that decision."

Support Grows For Striking Columbia University Graduate Students

Today marks the beginning of the third week of the Columbia University graduate workers strike. The courageous struggle by over 3,000 graduate student-workers for improved wages, benefits and working conditions continues to receive support from workers at Columbia and more broadly throughout the US. Last Thursday, rank-and-file members of the Graduate Workers of Columbia (GWC), which is affiliated with the UAW, defied an attempt by the union bargaining committee to shut down the strike with a deal that would have signified a de facto pay cut for the graduate students, taking into account inflation and union dues. Now, the university, whose president Lee Bollinger takes home $4 million every year, is significantly ramping up pressure on the graduate students to force them to give in.

We Can Win Student Loan Debt Cancellation

On March 18, the Biden administration's Department of Education announced that it will cancel $1 billion in federal student loan debt held by 72,000 borrowers who were defrauded by for-profit universities. These students received subprime educations and worthless degrees, and then were burdened with debt often in the tens of thousands of dollars—all while predatory companies and their investors made millions.  The only reason this debt is now being cancelled is because debtors got organized. In 2015, students from for-profit, now defunct Corinthian Colleges Inc. launched the country's first student debt strike, refusing to pay their loans because they had been scammed by their school.

College Students Hold Statewide Day Of Action To Stop Line 3

Minnesota - Today, hundreds of Minnesota college and university students are staging demonstrations on their campuses to raise awareness of the Line 3 pipeline, and to call on their institutions to divest from fossil fuel industry projects. Students from the University of Minnesota Morris, UMD, UMN Twin Cities, Carleton College, St Olaf College, The College of St Benedict’s, Gustavus Adolphus College, and Macalester College have been collaborating to plan this day of action for months.  Emily Wittkop, a junior at the University of Minnesota Morris said, “I'm fighting Line 3 for several reasons - the danger to our environment, the violation of Minnesota's treaties, the impact of oil on the world's political climate. I'm also pushing the University of Minnesota to begin fossil fuel divestment so that the financial investments of UMN matches their stated mission and the will of the student population that pay so much for their education here.”

This Is Why It Is Imperative That President Biden, Not Congress, Cancels Student Debt

The current student debt burden is over $2 trillion and it is crushing the economy. Defaults on student loans are high and for most borrowers, especially those who are people of color, their loan balances are rising instead of falling. Clearing the FOG speaks with Alan Collinge of Student Loan Justice about the impacts of the student loan burden and how to resolve this crisis. He makes a critical point about why it is President Biden, as he promised on the campaign trail, and not Congress, who cancels student debt and why that would be a powerful way to stimulate the economy.
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