John,
Student loans are a huge burden on 45 million Americans who — collectively — hold more than $1.6 trillion in student debt. In New York state alone, there are 2.4 million folks with outstanding student loans and a cumulative debt of $89.5 billion.
That's why earlier today, Congressman-elect Jamaal Bowman joined Senator Chuck Schumer and Congressmen-elect Mondaire Jones and Ritchie Torres — along with local students — to urge the Biden-Harris administration to cancel up to $50,000 in debt for federal student loan borrowers.
Nationwide, folks like Ayanna Pressley, AOC, and Cori Bush have also joined in this fight to cancel student debt — and support is only growing. Will you join us today and add your name to our petition to cancel student debt today?
With the coronavirus pandemic and record unemployment, so many folks have to make the impossible choice between keeping a roof over their heads and putting food on the table or making their student loan payment.
As our next president, Joe Biden can substantially cancel student loan debt for students once he is sworn in — across New York state and the nation. Even if Republicans in the Senate choose to ignore the problem, President-elect Biden can cancel student debt with existing executive authority under the Higher Education Act.
Forgiving student debt will change the lives of young people, particularly for young Black people who hold far more student loan debt than their white peers. Cancelling the massive and prohibitive amounts of debt that young folks hold is the right thing to do, and it would have immediate effects on our economy — from an equitable economic recovery from COVID-19 to helping close the racial wealth gap.
In solidarity,
Team Bowman
