Eight attorneys general call on Biden to cancel federal student debt for every borrower

New York State Attorney General Letitia James speaks during a “Defend Democracy” rally, taking place on the first anniversary of the January 6, 2021 attack on the U.S. Capitol, in Brooklyn, New York, U.S., January 6, 2022.

The attorneys general of New York, Illinois and Washington state wrote a letter to the president requesting that he forgive federal student debt.

New York State Attorney General Letitia James praised President Biden for giving serious consideration to forgiveness, but said that we must take bolder, more decisive action to end the crisis.

Some have argued that the president has the authority to cancel the debt through executive action.

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Under intense pressure from advocates and Democratic legislators, Biden has recently shown a willingness to use his own authority to reduce people's debt loads.

The country's outstanding student loan debt balance was larger than credit card or auto debt and posed a bigger burden to households. Ten million people are estimated to be in default or delinquency.

The attorneys general wrote that the economy is fragile and consumer prices are spiking at rates unseen for decades. The time is right for action.

We call on your administration to cancel federal student loan debt for every person who owes it.