Today would be a great day for President Biden to cancel student debt.
When he was on the campaign trail, President Biden made a promise to cancel student debt if elected. And since day one of his presidency, Ayanna has kept up the pressure on him and his administration to make good on that promise.
Biden has the opportunity to provide critically-needed relief to more than 45 million Americans who combined hold over $1.8 trillion in student loan debt. This relief would not only remove an immense economic burden from the shoulders of millions of people, it would also help stimulate our economy and put financial power back in the hands of the people.
Legal experts and progressive leaders like Ayanna agree: the president has the legal authority to cancel student debt. And he should. If you agree, will you make a contribution of any amount today to help us keep fighting for student debt relief? A contribution from you today will send a powerful message to President Biden that the time to cancel student debt is now.
The President has the legal authority to cancel federal student debt through the 1965 Higher Education Act — the same vehicle that President Biden has already used to extend the pause on federal student loan payments twice.
But right now, federal student loan payments are set to restart in January 2022, even though 60 percent of borrowers say they are not financially secure enough to restart payments and 75 percent say that the payment pause has been critical to their financial well-being.1
Student debt cancellation is an economic and racial justice issue. The communities hit hardest by the pandemic are the same communities holding a disproportionate amount of student loan debt — Black, brown, and Indigenous communities; women, and people in low-income communities.
Cancelling student debt would make major strides toward leveling the playing field for millions of Americans, and would help boost our economy for all. Will you help us send a message to President Biden that he must take action now to lift the burden of student debt from millions of Americans by making a contribution of any amount you can afford to our movement?
Ayanna and our movement will not let up the pressure on President Biden to make good on his promise.
The A-Team
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Paid for by the Committee to Elect Ayanna Pressley
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