Cancelling student debt would:
- Stimulate the national economy;
- ease the strain for the 1 in 3 young people with student debt who can’t afford to buy a home, or are being forced to choose between loan payments and other bills;
- and help close the racial wealth gap.
As the economy and the pandemic get worse, the government needs to use all its resources to help. Cancelling student debt is one of the most powerful tools it has to provide relief.
Suspending payments on federal student loans merely kicks the problem down the road. By contrast, research shows that student debt cancellation will allow borrowers to create and invest in small businesses, become homeowners, start families, and increase intergenerational wealth. As we strive to reach economic stability, student debt will prevent these millions of borrowers from affording rent, childcare, food, medications, and other necessities. Our solutions must center those who are struggling the most.
Join us and our partners in calling on the Senate to support students and the economy by providing student debt cancellation.
Have an extra two minutes? After you email your senators, send this to five fellow activists and tell them to take action, too!
Yours in solidarity,
Ella Azoulay
Program Coordinator
Generation Progress
P.S. Join the #CancelStudentDebt advocacy webinar to level up and get more info this Friday!
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