Rep. Omar’s Statement on Biden Executive Order to Cancel Student Debt

MINNEAPOLIS—Rep. Ilhan Omar (D-MN) released the following statement on President Biden’s executive order announcement to cancel $20,000 in student loan debt for Pell Grant recipients and $10,000 for those without Pell Grants who have incomes of up to $125,000 per year. It also includes a cap of 5% of monthly income. 

“I am incredibly proud of this monumental victory and the work we’ve done to get us to this moment. I am happy President Biden has taken needed action to cancel up to $20,000 in student loan debt and capped the income-based student loan repayment at 5% of borrowers’ monthly income. Today, President Biden has made an investment that will lift the burden of millions of student loan borrowers shackled by exorbitant debt. This is an important first step to provide critical relief to millions of borrowers. As the whip of the Progressive Caucus, I have advocated for student debt cancellation during my meetings with President Biden and glad to see this administration act.  

"While this partial cancellation is an important step, it’s not nearly enough. Right now, student debt is holding thousands of people across my district back from homeownership, opening a business, starting a family, or saving for the future. A full cancellation of student debt will ensure all borrowers can achieve economic dignity. 

“Student debt relief is just one component of a moral society. We also need to make college tuition-free so debt is not accumulated moving forward and invest in universal early education. 

"I won’t stop fighting until we have cancelled student debt for everyone in America and create a world where future generations are not held back because of crushing debt.” 

Rep. Omar has been steadfast in her advocacy for student loan forgiveness since she began serving in Congress. She has: 

·       In June of 2019, Rep. Omar, Sen. Sanders and Rep. Jayapal introduced Groundbreaking Bills to Ensure College For All and Eliminate All Student Debt

·       In October of 2019, Rep. Omar and Rep. Mary Gay Scanlon introduced the Student Loan Advocacy Act

·       In October of 2019, Rep. Omar voted for the College Affordability Act in the House Education and Labor Committee which included her amendment to create a commission to study the impact of student loan debt on borrowers and our economy.

·       In March of 2020, Rep. Omar and Rep. Ayanna Pressley co-led legislation to  cancel student debt amidst the COVID-19 Pandemic and shields borrowers from any involuntary payments and garnishment during the public health crisis. 

·       In May of 2020, Rep. Omar led a letter calling for student loan debt cancellation.

·       In December of 2020, Rep. Omar co-lead a resolution with Reps. Pressley, Waters, and Adams calling on the then President-Elect to cancel $50,000 in federal student debt.

·       In June of 2021, Rep. Omar led a letter calling on President Biden to extend the pause on student loan repayment

·       In October of 2021, Rep. Omar led a letter calling on the Biden Administration to release the student debt cancellation memo outlining the president’s authority to cancel student debt.

·       In January of 2022, Reps. Omar co-led a bicameral letter to President Biden urging him to deliver on this promise to cancel student debt

·       In March of 2022, Rep. Omar met with me President Biden in the White House to discuss student debt cancellation

·       In June of 2022, Rep. Omar led a letter to President Biden requesting information on President’s executive order to cancel student. 

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