John—earlier this month Katie sent an email outlining why she’s pushing the White House to cancel $50,000 worth of student loan debt per borrower. We asked to hear how this would benefit you, and this story from a constituent sheds light on why we need to cancel student loan debt:
| My husband and I are in our 50s and can finally afford to put a down payment on our own home IF, and only if, we can pay off our student loan debt first. We have $57,000 left to pay, so canceling $50K of it will change our lives, allowing us to buy a home, and freeing up more of our dollars to spend in the market, stimulating the economy. Getting out from under our debt would allow us to achieve our dreams. |
Canceling student loan debt will help millions of families, but would also provide a huge boost for our economy—and that’s good for everyone. Add your name to Katie’s petition to show your support for canceling student debt.
From: Katie Porter <[email protected]>
Sent on: Jan 29, 2022
Last week, I led a letter formally asking the White House to publicly release a memo outlining the Administration's authority to cancel $50,000 worth of student debt per borrower.
We already know that canceling $50,000 worth of student loans would eliminate the debts of 36 million Americans. But beyond that, it would provide the jolt our economy needs–and that’s good for everyone, whether you have student loan debt or not.
I know what it’s like to walk across that graduation stage and have six figures worth of student loan debt. And over a decade after I took on that debt, I struggled to decide if I should use extra money to pay off my debt or put the money towards my own kids college savings plan. Now, my oldest son is starting to look at colleges—and the price tag is daunting.
There is a real cost associated with not canceling student debt. Families and our economy as a whole are being held back by the high price of higher education and often inevitable loans that come along with it. Nearly 90% of *fully-employed* Americans who have student loan debt say they’re not financially secure enough to resume student loan payments.
Join me in encouraging the Biden Administration to cancel student loan debt. And if you’re one of the millions of Americans who would benefit from this, I’d love to hear from you. Click here to tell me your story.
—Katie Porter
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Congresswoman Katie Porter is fighting for affordable child care, lower cost prescription drugs, climate action, and a strong, stable, globally competitive economy that works for everyone. She’s standing up to corporate special interests and doesn’t take any money from corporate PACs or lobbyists, so we rely on grassroots supporters like you pitching in when they can. Make a contribution today. |
