A RESOLUTION OF THE DEMOCRATIC PARTY OF OREGON
WHEREAS, public education is an investment in the future of our society, and money invested in federal student loans goes directly into the education of the next generation; and
WHEREAS, students should have the fewest barriers possible to increase their educational opportunities; and
WHEREAS, on August 24, 2022, President Joe Biden acknowledged the social and economic burden of student loan debts on everyday Americans and on the federal economy by issuing a cancellation of up to $20,000 in student loan debt per borrower; and
WHEREAS, lawsuits that have no legal grounds for damages have appeared before the United States Supreme Court and threaten to reverse the lawful authority of the President and Secretary of Education to issue the forgiveness of student loan debts; and
WHEREAS, it is within the lawful authority of the President and Secretary of Education to halt all interest payments on student loans and effect forgiveness of these debts through the crediting of interest paid toward the remaining principal:
NOW, THEREFORE, THE DEMOCRATIC PARTY OF OREGON RESOLVES AS FOLLOWS:
Section 1. The US Government should stop charging interest on currently outstanding student loans, and as part of future federal student loan contracts.
Section 2. The US Government should Clear unpaid interest from outstanding balances.
Section 3. The US Government should retroactively apply all student loan interest paid to date to any remaining principal on outstanding loans. Should there be a remaining balance of interest paid, credit it to the debtor as a tax credit to be used over a generous balance of years.
Section 4: We will forward this resolution to the President, Vice-President, all members of the Oregon Federal Delegation, and the Secretary of Education.
Resolution submitted by Kavan Bahrami, Multnomah County; Greg Burrill, Multnomah County; Peter Hall, Baker County
As approved by the Democratic Party of Oregon on May 21st, 2023