Sen. Chuck Schumer and Sen. Elizabeth Warren, along with other Democratic lawmakers, have reintroduced a resolution calling on the White House to forgive $50,000 in student debt for all borrowers through executive action, per Business Insider.

During a virtual town meeting, Warren called on President Joe Biden to do the right thing.

  • “Cancelling $50,000 in student loan debt would provide permanent total relief to 36 million Americans,” Warren said. “It would be the end of their debt burden. And it would help millions more by dramatically reducing the principal of their debt.

Schumer also took the stage to talk about the importance of student debt relief.

  • “During a time of historic and overlapping crises that disproportionately affect communities of color, we must do everything in our power to bring real relief to the American people, lift our struggling economy, and bridge the gap. racial wealth gap,” Schumer said in a statement, per CNBC.

Biden did not include any debt forgiveness in the $1.9 trillion COVID-19 stimulus package, the report said. Today, members of his own party are calling on him to act.

The pause on student debt is set to expire Feb. 1, as I previously reported for the Deseret News.

According to CNBC, about 43 million Americans owe an estimated total of $1.6 trillion in outstanding student loans.