Former Education Secretary John King called on the Biden administration to cancel student loan debt for all borrowers, The Hill reported. King, who served under President Obama, told CBS News on Tuesday that his view stems from a reduction in federal investment in higher education over the last four decades, noting in the 1980s federal Pell Grants covered up to 80 percent of college tuition. "We've got to make up for that policy mistake of the last 40 years by addressing the crushing burden of student debt that so many young people feel today and fixing the problem going forward by committing to debt-free college in the United States," King told the outlet. An estimated 43 million Americans collectively owe at least $1.6 trillion, with the average borrower holding around $36,000 in federal student loans. Federal loan payments are currently paused due to the coronavirus pandemic, but they are set to resume May 1. Lawmakers and advocates have called on the president to both extend the payment moratorium and forgive up to $50,000 per borrower.
