John,
Student loans are an anti-Black capitalistic issue that we just can't seem to get rid of.
It is typical of the U.S. to mold a path that “leads” to freedom, knowledge, and community through the lens of education but litter that path with destructive traps and pickpocketing at every corner.
Here are some of the key takeaways from the data:
- Nearly 75% of student loan borrowers say they've delayed at least one significant life event due to debt;
- On average, Black student borrowers owe $25,000 more than white borrowers owe for their Bachelor degrees;
- 4 years after graduation, 48% of Black student borrowers owe more than they initially borrowed compared to just 17% of their white student peers.
The narrative that success starts with higher education has been preached to Black communities for generations. But white supremacy has woven its way into our education system – creating unnecessary hurdles for Black students and families.
John, send a letter to President Biden and remind him that we are still waiting for him to fulfill his first campaign promise of canceling ALL student loan debt.
The Biden-Harris Administration has okayed canceling almost $138 billion in student debt for nearly 3.9 million borrowers. This move is a big deal, but simply not enough. People have been borrowing for college since the late 1980s. Back in 1986, parents and students already owed almost $10 billion in federal loans. We're only beginning to tackle a 45-year-old problem…
To add insult to injury, Black people are the only demographic who have student debt higher than their median annual income.
Black people are not only attending college but also graduating at higher rates than ever before. Small amounts of federal loan cancellation are not enough, and they won't be until all public and private loans are completely canceled and wiped out.
President Biden needs to hear directly from you, John. Take a moment and add your name to our petition demanding President Biden cancel ALL student debt >>
In love and solidarity,
Black Lives Matter
