In his latest move to tackle student debt, President Joe Biden announced additional forgiveness for 30 million borrowers, targeting people who are struggling to make payments and those who’ve had debt for many years.
“That's 30 million people who are going to sleep easier, who can purchase a home, start a business, save for retirement, afford daycare,” U.S. Rep. Ayanna Pressley told Boston Public Radio on Thursday. Borrowers will see forgiveness start this fall.
Pressley called the forgiveness “life changing.” She said 43,000 borrowers in Massachusetts have already benefited from the president’s previous student loan forgiveness plans.
Despite the rising costs of higher education, Pressley said she still encourages young people to pursue degrees.
“I'm going to continue to fight to make sure that federally we invest in higher education as the public good that it is,” she said. Pressley cited her efforts to keep Pell grants, encourage investment in HBCUs and vocational schools.
Beyond gaining knowledge and competitiveness in the job market, Pressley said higher education will be key to training the next generation in new tools like artificial intelligence.
“We're not training enough people in these new models. And so I'm very concerned about the future of work,” Pressley said.
