Coronavirus: Lawmakers Propose Canceling Student Debt Amid Crisis

Massachusetts Rep. Ayanna Pressley and Minnesota Rep. Ilhan Omar introduced a bill Monday to provide student loan relief to 45 million workers and families during the coronavirus pandemic. The proposed legislation, the Student Debt Emergency Relief Act, would cancel at least $30,000 in outstanding student loan debt per borrower.

The bill would also require the Department of Education to assume the monthly payments of federal student loan borrowers and shield borrowers from involuntary collections or garnishments during the public health crisis.

"During this unprecedented crisis, no one should have to choose between paying their student loan payment, putting food on the table or keeping themselves and their families safe and healthy," said Pressley said in a statement.

According to Pressley, 45 million borrowers account for $1.6 trillion in student loan debt in the United States.

The proposal builds on calls from Pressley and Sen. Elizabeth Warren to add student debt cancellation to the emergency stimulus package. Pressley, Omar and 27 of their colleagues penned a letter in support of the measure. A plan to cancel a minimum of $10,000 in student debt per borrower and provide immediate relief from monthly payments was later proposed by Senate Democrats.