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Warren: Cost of college should be tackled after student loan debt cancellation

Sen. Elizabeth Warren (D-Mass.) questions Federal Reserve Chairman Jerome Powell during a Senate Banking, Housing, and Urban Affairs Committee hearing for the Semiannual Monetary Policy Report to Congress on Wednesday, June 22, 2022.
Greg Nash
Sen. Elizabeth Warren (D-Mass.) questions Federal Reserve Chairman Jerome Powell during a Senate Banking, Housing, and Urban Affairs Committee hearing for the Semiannual Monetary Policy Report to Congress on Wednesday, June 22, 2022.

Correction: An earlier version of this report incorrectly identified the host of Sunday’s “State of the Union” program.

Sen. Elizabeth Warren (D-Mass.) on Sunday said the next step is to tackle the cost of college after President Biden announced that he will forgive some student loan debt for millions of Americans.

While she praised Biden’s decision to cancel up to $20,000 in student loan debt for some borrowers, Warren told anchor Dana Bash on CNN’s “State of the Union” that universities and public education have widespread problems that must be addressed.

“We have a lot of problems in the whole system. The president has done what he can do with the tool in front of him. And that is he’s helped relieve the debt burden for millions of Americans,” Warren said, adding that “we need to deal directly with the cost of college. Absolutely.”

Biden announced last week he would cancel up to $10,000 in student loan debt for borrowers who make less than $125,000 a year and up to $20,000 for borrowers who were Pell Grant recipients. The long-awaited move was hailed by Democrats and progressives.

Still, many have turned to the question of what comes next, considering the next generation of students will face the same high tuition costs.

Warren on Sunday noted that Democrats have several bills on the table that would address the rising cost of college, including one she has sponsored focusing on more transparency around pricing.

Warren, who has long pushed for student loan debt cancellation, told CNN that when she was in college, she paid for it with a part-time waitressing job before becoming a special education teacher, which she said “opened a million doors” for her.

“That opportunity is not out there today for any of our kids,” she said. “Our public education system is no longer creating opportunities for kids like me and other families who can’t afford to write a check.

“Instead, we’re saying to these young people you got to get an education, but we are going to wrap the chains of debt around you,” she continued. “For many, you’re going to be paying it for decades into the future.”

Updated at 10:24 a.m.

Tags Biden Dana Bash Elizabeth Warren Elizabeth Warren student loan debt
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