Elizabeth Warren

The biggest banks have too much power, present too many risks to financial stability, and have failed to serve Americans' needs.

Any future trade agreements must include strong protections with automatic enforcement and automatic deadlines.

A key improvement, secured with leadership from Chairman Wyden and Senator Brown, is the rapid response labor mechanism.

It is not just the negotiation of new deals that puts corporate profits ahead of workers; it is also the enforcement of existing rules.

I think it is fair to say that this is a very, very poor rate of enforcement actions.

For too long our trade rules have undercut workers, promoting offshoring and a global race to the bottom in labor and environmental standards.

The pause has been good for Elise, good for Elise's family, and good for our economy.

But the Federal Government, with PHEAA's help, has failed to keep our end of the bargain.

Anyone who hears that story says, why would I become a teacher?

So this kind of debt relief would open the door for millions of Americans to have the freedom and the opportunity to build the lives that they want.

I have been saying for years that the Department of Education needs to do more to hold all student loan servicers accountable when they break the law or when they hurt borrowers.

I am fighting to cancel $50,000 of student loan debt so that borrowers who are struggling can get permanent relief.

After years of making payments, they discover that they are not eligible for getting their remaining student loans forgiven.

We need to get control of our broken loan servicing system so that we never end up in this situations again.

There needs to be real penalties for poor performance and abuse practices, and the Department needs to proactively look for those and do screenings.

This student loan time bomb could drag down our entire economic recovery when it explodes.

It is a pretty simple promise that for 10 years, in exchange for you paying your debt each month for 10 years, you would get the rest of it forgiven.

When the Federal Government props up companies like that, that is the definition of 'too big to fail.'

I am glad they are gone.

Now the President should make these benefits permanent by using his authority to forgive $50,000 in student loan debt for all borrowers.

This hearing is in a hybrid format. Our Members are in person, but we will have witnesses who are testifying both in-person and by video.

The student loan servicers are not ready either.

Last month, I led 60 of my House and Senate colleagues in calling on President Biden to extend the payment pause at least until March 2022.

We need wholesale forgiveness, and we need it now. People have been cheated.

Senator Kennedy and I are from different parties, and we often hold different views, but we both believe in accountability.