Secretary of Education Miguel Cardona on why "fixing a broken" student loan system is a priority for Biden administration
CBSN
As the freeze on federal student loan payments is set to expire in May, Secretary of Education Miguel Cardona told "CBS Mornings" Friday that the Biden administration is working on how to help students with debt relief.
"We're having those conversations now," Cardona said. "It's certainly something that, where we have the ability to address where colleges might have taken advantage or loan servicers have taken advantage of borrowers, we're releasing and discharging debts. We'll continue the conversations about overall broad debt relief."
Americans owe more than $1.7 trillion in student loan debt in the United States. More than 43 million borrowers hold federal student loan debt.
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