No Student Loan Borrower Left Behind

In a sign that President Biden’s cancellation of student loans isn’t going down well politically, Democratic senators are pushing to extend write-offs to parents who borrowed to pay for their children’s college.

Congress created the Parent PLUS loan program in 1980 to help middle-class families. Federal loans for dependent students are capped at $31,000, but parents can borrow an unlimited amount to bridge the gap between college fees and their children’s financial support. About 3.6 million parental borrowers owe the government about $107 billion.