Source: The Intercept

On Friday,the group Debt Collective began its second mass student loan debt strike. The leftist organizers’ put student debt jubilee on the map during Occupy Wall Street and their legacy shines throughout progressive politics. Even serious presidential hopefuls like Sens. Bernie Sanders, I-Vt., and Elizabeth Warren, D-Mass., have taken up the mantle of erasing student debt.

“Congress built a self-destruct button into the heart of the student debt system. This means we could win a debt jubilee months from now!”

The organizers with Debt Collective offer more than just grassroots support for debt forgiveness: The group has come up with an actionable legal blueprint for making it happen — and fast. “The next president can cancel all student debt on day one,” said a statement from the Debt Collective. “Congress built a self-destruct button into the heart of the student debt system. This means we could win a debt jubilee months from now!”

Debt Collective’s approach to erasing student debt is based on using a Department of Education legal authority, under the 1965 Higher Education Act, to “compromise, waive or release” any claims it has against student debtors. A willing president could, without new legislation, immediately enact the cancellation of at least all public student debt.

While supposed pragmatists deem such plans as impractical and idealistic, progressive candidates are taking notice: This year, Warren became the first presidential hopeful to vow to use this exact executive authority to wipe away the majority of U.S. student debt.


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