The moratorium on federal student loan payments is set to expire on May 1st.
That's a big problem: 9 in 10 student loan borrowers aren't prepared for payments to resume, especially as the rising costs of groceries and basic necessities eat into their paychecks.
But there's a solution to this crisis: With a swipe of the pen, President Biden can free millions of people across America from the crushing burden of nearly $2 trillion in student loan debt.
Forgiving student debt is an economic issue AND a racial justice issue. Women hold two-thirds of student debt, and Black borrowers owe $25,000 more on average than white borrowers.
And the burden of student loan debt is not just a pandemic problem — 1 in 4 borrowers were already behind on payments even before the very first case of COVID-19 was found in America. Restarting student loan payments will dramatically increase delinquencies, causing unnecessary financial catastrophe for many Americans.
In solidarity,
Pramila
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