Rep. Alexandria Ocasio-Cortez wants people in student debt to get the same assistance the short-term debt markets received to prevent economic ruin after one of the market’s worst days on record.

On Thursday, coronavirus fears sent markets into free fall, leading to the worst day in the stock market since 1987. In response to the dip, the Federal Reserve announced that it would be injecting more around $1.5 trillion in the market to help smooth short-term funding markets.

Ocasio-Cortez, a New York Democrat, questioned why the Fed was ready to aid the markets but not Americans struggling with student debt. She tweeted, “FYI, the amount that the Fed just injected almost covers all student loan debt in the US. There is absolutely NO excuse for not pausing student debt collections, planning for mortgage &rent relief, etc. We need to care for working people as much as we care for the stock market.”

Some of the suggestions made by Ocasio-Cortez for relieving Americans who may miss work due to the coronavirus have been included in legislation making its way through Congress this week, including provisions to replace lost wages for ill hourly workers. House Democrats and Senate Republicans are not on the same page with the legislation, but House Speaker Nancy Pelosi claimed she would have legislation approved by the weekend.

Ocasio-Cortez has suggested forgiving the nation’s combined student loan debt of approximately $1.5 trillion. Sen. Bernie Sanders, who was endorsed by Ocasio-Cortez, vowed to forgive all student loan debt if elected president.





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