John, in 2020, the government paused student loan payments because Americans were being forced to choose between paying and putting food on the table.
But as we continue to experience the hardship of a two-plus-year worldwide pandemic and higher prices at the grocery store, gas pump, and in our monthly bills — today is worse for many.
Student debt should be canceled, John — but the $10,000 in means-tested relief the White House is considering, according to reports, would only fully relieve those who owe the least and possibly shut out millions of Americans who do qualify.1
We need to raise our voices now. Can you add your name to our petition calling on President Biden to go bigger and cancel it all? Our communities desperately need relief — $10,000 is not enough.
Add Your Name »
The average student loan debt is over $30,000, and more than 3 million borrowers owe more than $100,000.2 With interest placed on these loans, $10,000 won't even make a dent.
And when we decide to means test instead of providing universal coverage, folks who need help sometimes don't get it — because of onerous paperwork, barriers, and delays.
Canceling student debt isn't just an economic justice issue — it’s a racial and gender justice issue, too. On average, Black borrowers have nearly $53,000 in student loan debt four years after graduation — nearly twice as much as white borrowers. And women borrowers owe ⅔ of all student loan debt — holding an average of $31,276 in student debt upon graduation.
Congress had the historic opportunity to make community college free and make investments in child care, affordable housing, and ensuring a livable planet. It stalled in the Senate — but President Biden can still act boldly to ensure student loans don't continue to hold millions of Americans back.
Add your name to our petition calling on President Biden to go bigger than just $10,000 in student debt relief. We can't wait any longer.
Add Your Name »
In solidarity,
All of us at the Working Families Party
Sources:
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Latest White House plan would forgive $10,000 in student debt per borrower, The Washington Post, May 27, 2022.
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As Biden administration leans toward $10,000 in student loan forgiveness, advocates push back, CNBC, May 27, 2022.
