Student Loan Forgiveness: What Republicans Mean For Your Student Loans

Student Loan Forgiveness: What Republicans Mean For Your Student Loans

Here's what you need to know. Student loan forgiveness primarily has been associated with progressive Democrats who are pushing for systemic change in higher education. When you think of wide-scale student loan cancellation, you think of leading advocates such as Sen. Elizabeth Warren (D-MA), Senate Majority Leader Chuck Schumer (D-NY), Rep. Alexandria Ocasio-Cortez (D-NY) and Rep. Ayanna Pressley (D-MA). However, rarely do you read about Republicans and student loan forgiveness. The common perception is that Democrats care about education and Republicans don't. Or that Democrats want to help student loan borrowers and Republicans don't. No matter which political party you support, it's important to understand how Republicans approach student loans and student loan forgiveness. Here's what Republicans mean for your student loans. (You might be surprised to learn this): The student loan relief that more than 40 million student loan borrowers have right now was passed by a Republican Senate. In March 2020, Congress passed the Cares Act, which was a $2. 2 trillion stimulus bill, that included major student loan relief. It was Sen. Mitch McConnell (D-KY) who led the U. S. Senate then, not Schumer. That student loan relief included temporary student loan forbearance for federal student loans,