Foreword | Delivering on Debt Relief

9 Pages Posted: 5 Jan 2021

See all articles by Seth Frotman

Seth Frotman

Student Borrower Protection Center

Dalié Jiménez

University of California, Irvine School of Law; Harvard Law School - Center on the Legal Profession

Jonathan Glater

University of California, Los Angeles (UCLA)

Date Written: November 23, 2020

Abstract

This foreword introduces a compendium of articles outlining the legal authorities for administrative cancellation of student debt. As of the date this compendium was published, the nation’s outstanding cumulative student debt burden stands at $1.7 trillion, collectively shouldered by 45 million Americans. This burden continues to rise unchecked—in only four short years, outstanding student debt is estimated to reach nearly $2 trillion.

Yet, armed with the benefit of hindsight and buoyed by the possibilities afforded by a new administration, we recognize that we can and must act. President Biden will take office with the tools needed to take immediate action to eliminate this burden for tens of millions of people who have been needlessly forced to bear its brunt.

Without a single new act of Congress, the President has the power to execute these laws as they were intended and to pry open the safety valves designed to protect borrowers. Each of the key levers for debt relief under current law is available to provide overdue, immediate relief to millions of people with student debt.

Keywords: student loan, student debt, cancellation, forgiveness, discharge

Suggested Citation

Frotman, Seth and Jiménez, Dalié and Glater, Jonathan, Foreword | Delivering on Debt Relief (November 23, 2020). Student Borrower Protection Center Research Paper, Available at SSRN: https://ssrn.com/abstract=3757029 or http://dx.doi.org/10.2139/ssrn.3757029

Seth Frotman (Contact Author)

Student Borrower Protection Center ( email )

1025 Connecticut Ave. NW
Suite 717
Washington, DC 20036
United States

HOME PAGE: http://www.protectborrowers.org

Dalié Jiménez

University of California, Irvine School of Law ( email )

401 E. Peltason Dr.
Ste. 1000
Irvine, CA 92697-1000
United States

HOME PAGE: http://www.law.uci.edu/faculty/full-time/jimenez/

Harvard Law School - Center on the Legal Profession ( email )

1585 Massachusetts Avenue
Wasserstein Hall, Suite 5018
Cambridge, MA 02138
United States

Jonathan Glater

University of California, Los Angeles (UCLA) ( email )

405 Hilgard Avenue
Box 951361
Los Angeles, CA 90095
United States

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