Dear friend,
Small businesses are the cornerstone of our economy and communities, but an entire generation of entrepreneurs is being held back by student debt. By far the biggest barrier to starting a business is student debt -- and this disproportionately harms working people and communities of color.
That’s why I'm proud to introduce the Supporting America’s Young Entrepreneurs Act of 2021, which will provide three years of interest-free student loan deferment and up to $20,000 in forgiveness for the founders of small businesses in economically distressed areas. This program will also offer up to $15,000 in loan forgiveness for employees working at startups, regardless of location.
Not only does this bill support students who are burdened by debt, it also fosters investment in all our communities -- especially those which are too often overlooked. When young entrepreneurs are empowered to start and work at local businesses, we all benefit.
Any equitable Covid recovery will acknowledge the ways that student debt perpetuates the racial wealth gap and the role that small businesses can play in closing it. I’m dedicated to solutions that understand these issues as interconnected and seek to address them accordingly.
I know how important small businesses are and what an impact they have can on working communities, which is why I’m so proud to advocate for them. Will you join me? [[link removed]] JOIN US [[link removed]]
There is a lot to do to ensure that nobody gets left behind and that young leaders can start businesses in their communities -- which often need them most -- but I know we can do it together.
Let’s get to work,
Nydia
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