Throughout the primary, the leading candidates for the Democratic Party’s nomination have promised to take action on the $1.3 trillion student debt crisis. These calls have been echoed by President Barack Obama himself, who declared in his final State of the Union address that “no hardworking student should be stuck in the red” and called on Congress to make college more affordable.
He’s right that student debt is a debilitating burden for millions of students and their families. But Obama also has the unilateral authority to help those students now by canceling the student loans of those who attended predatory for-profit colleges. He just has to use it.
On February 17, members of the Obama administration, a representative of the for-profit college industry and borrower advocates are scheduled to gather for three days of high-stakes talks about whether defrauded students are eligible for debt relief. This process has been unnecessarily delayed for months, hurting students along the way. Now it is time for the White House to prove that it seriously wants to address the student debt crisis.
Read the rest of this editorial in Politico.