SIGN ON to urge President Biden to cancel at least $50,000 in student loan
debt. *When you click, you’ll automatically sign on if we already have
your information.
[ [link removed] ]Take Action Now
[ [link removed] ]SIGN NOW
Dear Friend,
Student loans are never something I counted on.
When I graduated high school in Florida, I had a Bright Futures
scholarship (the state scholarship program) and later received two merit
based scholarships. I was approved for the Federal Work Study Program and
my parents did everything they could to help, but the Great Recession hit
my family hard and I was forced to finally take out student loans if I
wanted to finish my education.
I remember everyone telling me to do it. That it was an investment that I
would be able to **easily** pay off once I graduated. Over 10 years later
of working and even starting a family, nothing could be further from the
truth and I’m not alone.
Families are falling on hard times yet again, but this time instead of
leaders saddling families with additional debt that will only further
increase the wealth gap in this country, our leaders can help jumpstart
the economic recovery of our families by cancelling student debt.
[ [link removed] ]***SIGN ON to urge President Biden to cancel at least $50,000 in
student loan debt as proposed by Senator Schumer and Senator Warren in
Senate Resolution 711 for each borrower through Executive Action! [1]
*When you click, you’ll automatically sign on if we already have your
information.
A recent study showed that there are “45 million borrowers who
collectively owe nearly $1.6 trillion in student loan debt in the U.S.
Student loan debt is now the second highest consumer debt category -
behind only mortgage debt - and higher than both credit cards and auto
loans.” [ [link removed] ] Women currently hold about two-thirds of all U.S. student loan
debt. [ [link removed] ]
MILLIONS of borrowers, many left owing more than they first borrowed after
years of making payments, sounds like a systemic problem to me...NOT an
epidemic of personal failings.
And things are about to get SO much worse because of the pandemic. [2]This
is why we have to speak up!
Student debt was a crisis even before the pandemic with Black and Latinx
communities being hit the hardest, particularly women. [ [link removed] ] The same
communities being disproportionately impacted by COVID-19’s health and
economic fallout. And we aren’t just talking about millennials. Right now,
“student debt is one of the biggest contributors to the rise in the amount
of debt seniors hold overall” with thousands having their social security
checks garnished to mostly pay for just fees and interest rates on an
already fixed income. [ [link removed] ] With many borrowers owing more than they
borrowed, profits are being made off the backs of already historically
marginalized communities and some of our most vulnerable elders. This is
NOT okay and it HAS to stop.
That’s the bad news. The good news is that according to a Roosevelt study
released this year, cancelling student debt can increase wealth for Black
and Latinx households and help close the racial wealth gap! [ [link removed] ] Cancelling
student debt is also a huge stimulus opportunity amid this pandemic to
support families and increase spending in our economy, like home buying.
[ [link removed] ]
[3]Sign now! When you click, you’ll automatically sign on to our letter
which reads:
Dear President Biden:
As the COVID-19 pandemic continues families are falling with no end in
sight and will need more than stop gap measures to fully recover.
That is why I’m signing on to urge you to cancel at least $50,000 in
student loan debt as proposed by Senator Schumer and Senator Warren in
Senate Resolution 711 for each borrower through an Executive Action.
A recent study showed that there are “45 million borrowers who
collectively owe nearly $1.6 trillion in student loan debt in the U.S.
Student loan debt is now the second highest consumer debt category -
behind only mortgage debt - and higher than both credit cards and auto
loans.” Women currently hold about two-thirds of all U.S. student loan
debt.
Student debt was a crisis even before the pandemic with Black and Latinx
communities being hit the hardest, particularly women. The same
communities being disproportionately impacted by COVID-19’s health and
economic fallout. And we aren’t just talking about millennials. Right
now, student debt is one of the biggest contributors to rising debt
among seniors with thousands having their social security checks
garnished to mostly pay for just fees and interest rates on an already
fixed income. With many borrowers owing more than they borrowed, profits
are being made off the backs of already historically marginalized
communities and some of our most vulnerable elders.
Forgiving a minimum in 50k student loan debt can go a long way in
alleviating this crisis. According to a Roosevelt study released this
year, cancelling student debt can increase wealth for Black and Latinx
households and help close the racial wealth gap. Cancelling student debt
is also a huge stimulus opportunity amid this pandemic to support
families and increase spending in our economy, like home buying.
The decision here is clear and I urge you to help jumpstart the economic
recovery of our students, families, and elders by taking decisive action
to forgive at least 50k in student debt.
This just makes sense - so LET’S GET IT DONE!
[4]Add your name to urge President Biden to cancel at least $50,000 in
student loan debt through Executive Action! *When you click, you’ll
automatically sign on if we already have your information.
The more of us who raise our voices on this issue, the more noise we’ll
make and the more powerful we’ll be! After you take action, send this link
to your friends and family so they can participate
too. [5][link removed]
Together, we are a powerful voices for families!
- Nina, Felicia, Sara, Diarra, Bea, Karen and the entire
MomsRising/MamásConPoder team
[1] Congress.gov, [6]S.Res.711 - A resolution calling on the President of
the United States to take executive action to broadly cancel Federal
student loan debt.
[2] Forbes, [7]Student Loan Debt Statistics In 2020: A Record $1.6
Trillion
[3] AAUW, [ [link removed] ]Deeper in Debt: Women & Student Loans
[4] The Nation, [ [link removed] ]Debt Is Holding Black Americans Hostage
[5] CNBC, [ [link removed] ]Op-ed: Forgiving student debt will help senior citizens, too
[6] Roosevelt Institute, [ [link removed] ]Student Debt Forgiveness Options:
Implications for Policy and Racial Equity
[7] [ [link removed] ]Administrative Student Debt Relief
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