Attorney General Raoul Issues Statement On Biden Administration Plans To Cancel Federal Student Loan Debt
CHICAGO - Attorney General Kwame Raoul today issued the following statement regarding the announcement from President Joe Biden’s administration that it plans to cancel $10,000 in debt for borrowers who earn less than $125,000 per year and $20,000 in debt for Pell grant recipients. “Higher education should be within reach for all Illinoisans without the fear that they will be saddled with lifelong debt. The administration’s announcement today is a clear acknowledgment of the burden student loan debt imposes, and response to repayment and forgiveness programs that have been historically and systemically flawed. “While long-term reforms to the student loan system in this country are desperately needed, I commend the Biden administration for offering some immediate relief to millions of student loan borrowers.” Attorney General Raoul has long advocated for protections for student loan borrowers. In May, Raoul called upon President Biden to cancel federal