The emergency pause on student loan payments expires on January 31, 2022 – meaning payments are scheduled to restart in less than two months.
These student loan bills will add an immense financial burden to millions of families across the country already facing unprecedented economic hardship and, without immediate action, many will be forced to make impossible decisions: paying for their student loans or paying for housing, childcare, medicine, or groceries.
President Biden has the legal authority to cancel student debt with the stroke of a pen — and he must take action now to avoid deep harm to our communities.
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.
Before student loan payments resume, President Biden must cancel at least $50,000 in student debt for every borrower to remove barriers to access and opportunity, boost the economy, close the racial wealth gap, and ensure a just and equitable recovery.
In solidarity,
The A-Team
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Paid for by the Committee to Elect Ayanna Pressley
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