Friend -- student debt needs to go.

In total, more than 40 million Americans owe $1.5 trillion in federal student loan debt. It slows the economy by burdening young people with huge debts just as they start out their careers. And it's created a massive racial wealth gap.

This is what we should do: Just cancel student debt.

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President Biden has the authority to cancel up to $50,000 in student debt for borrowers and put money back in Americans' pockets when they need it most. I'm urging him to get this done, but I need your support to show just how many of us demand action.

Add your name to my petition calling on President Biden to cancel up to $50,000 in student loan debt per person.

If we're successful, this will be a huge stride toward closing the racial wealth gap. Black students are nearly 20% more likely to take out federal student loans. Half of Black borrowers and a third of Latinx borrowers default on their loans within 20 years.

These crushing loans hold young people back from the vocations and careers our society needs most right now -- like doctors and teachers -- and they wipe out generation after generation's chance to build wealth.

You and I know this is the right thing to do. I need to be able to show your name in support of the plan -- so please, add yours today.

I'm not going to back down on this. I hope I can count on you,

Chuck Schumer

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