President Biden just announced that he is extending the pause on student loan payments until May 1, 2022!
This is great news for more than 42 million Americans, especially the nearly 80% of student loan borrowers that say they’re not financially ready to restart payments. Today’s news is thanks to our continued organizing, and it’s a testament to what happens when we speak out.
But this is not enough. Simply delaying these crushing payments is not going to cut it. President Biden must use his power to cancel at least $50,000 of student loan debt per borrower. All it takes is his signature.
Once May 1 passes, folks crushed by student loan debt — debt that disproportionately affects women and people of color — will have to start paying again. That will mean picking between paying their loans and putting food on the table.
It’s clear: canceling student loan debt is the right thing to do. We must continue our organizing to make sure President Biden does the right thing.
In solidarity,
Pramila
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