We need to cancel $50,000 in federal student debt for every federal loan borrower in the country – and President Biden has the power to do so with the stroke of a pen. That’s why I’m leading a coalition of Attorneys General urging him to take immediate executive action.

 

 

Student loan debt in the U.S. now tops $1.7 trillion. One in five federal loan borrowers are in default. Here in Massachusetts, more than half of 2019 graduates carried student debt. Not only would debt cancellation provide badly needed relief for these families, it will also specifically help make strides towards closing the racial wealth gap. 

 

I constantly meet students and families who simply tried to invest in their futures, but instead they ended up trapped in an endless cycle of debt. Others were taken advantage of by predatory student loan providers or for-profit colleges. My office has helped thousands of student borrowers in Massachusetts, but we need the federal government to play a role too.

 

Will you stand with me and my colleagues in calling on President Biden to cancel $50,000 in student debt? Especially as Americans are struggling with the financial fallout of COVID-19, the Biden administration must act with urgency to tackle this national crisis. Our collective voices can send a strong message that there is overwhelming popular support for student debt relief and that it will have an immediate, tangible impact for millions of Americans when they need it most. 

 

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Thanks for all you do,

Maura