Pelosi Statement on President Biden’s Historic Student Debt Relief

San Francisco – Speaker Nancy Pelosi issued the following statement after President Biden announced that the federal government will provide historic and targeted student debt relief:

“President Biden’s bold action is a strong step in Democrats’ fight to expand access to higher education and empower every American to reach fulfillment.

By delivering historic targeted student debt relief to millions of borrowers, more working families will be able to meet their kitchen table needs as they continue to recover from the challenges of the pandemic.

Importantly, this action will help those most in need, easing a financial burden disproportionately harming women and people of color.

“Guided by President Biden’s commitment to justice and equity, Democrats have led the charge to support students through the hardships of the pandemic and to open the gates of higher education for those who have long been left behind.

Our American Rescue Plan invested nearly $40 billion in colleges and universities – with substantial funding specifically for Minority Serving Institutions – to keep down costs and deliver direct assistance to students.

In this year’s government funding package, Democrats secured a $400 increase in the maximum Pell Grant.  And our historic CHIPS and Science Act widens the pathway to a STEM education for communities across the country.

At the same time, Democrats continue to fight for strong K-12 public schools, affordable community college, and lifetime learning for workers, so that every American can succeed in the 21st Century.

“President Biden and Congressional Democrats remain laser-focused on putting People Over Politics: lowering costs, creating better-paying jobs, and building safer communities.”