of nearly 6 billion dollars of debts for 560,000 students who attended Corinthian College, a for-profit school that collapsed in 2015., the secretary of education asserted this same authority to “compromise, waive, and release debts,” and started a lengthy rulemaking process to pursue large-scale relief using this provision.
Other people’s appeals contain stories more devastating than mine. Because of student debt, some people have become houseless, such as a debtor I talked to years ago who shared that she was living out of her car. Others have foregone having families, purchasing medical care or saving for retirement.
Though an executive order would surely be met with legal challenges, it’s a lot harder to collect on debt that’s already been discharged. As Debt Collective cofounder Astra Taylor said in a: “Cancel it all, immediately, and dare the court to reimpose life-destroying debts on 45 million people.”
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