John, we’re in a student loan debt crisis like no other.
More than 45 million people living in this country collectively owe more than $1.8 trillion in student loan debt. And even worse, this crisis is disproportionately impacting people of color.
Latino students are nearly 72% more likely to take out loans to attend college. But that doesn’t stop there — half of Black borrowers and a third of Latino borrowers typically default on their loans within 20 years.
The student loan debt crisis is a multi-racial and multi-generational issue that we can’t sweep under the rug any longer. President Biden must step in and cancel student loan debt before loan payments resume in two months.
Student loan debt holds millions of people back from pursuing their dreams and eliminates the opportunity for families to build generational wealth. I know this from personal experience, John. Student loan debt almost held me back from running for Congress. So this is an issue that I take very seriously.
No American living in this country should carry overwhelming amounts of student loan debt just for achieving a quality education. But with the swipe of a pen, President Biden could cancel that debt and free a generation of people from this crushing burden.
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