John,

Activism works! Today, thanks to continuous pressure from our progressive movement, President Biden announced that the federal government will cancel $10,000 in education debt for all borrowers with incomes below $125,000 and cancel $20,000 in education debt for Pell Grant recipients.

More than 90% of Pell Grant recipients come from families with incomes of $60,000 or less. Today’s announcement is a big win for addressing the racial wealth gap, particularly for Black students and borrowers.

Loans with high interest rates keep people mired in debt for their whole lives, simply for following society’s recommendations to seek higher education. In fact, 20 years after first enrolling in school, the typical Black borrower who started college in the mid-1990s still owed 95% of their original education debt.

Today is a big victory for the roughly 20 million borrowers whose remaining education debt will be fully canceled. However, there are still more than 23 million borrowers left with crushing student loan debt.

Canceling all student debt is a moral and racial justice imperative. We must keep fighting.

Chip in to celebrate today’s victory and to keep working to cancel ALL education debt, regardless of income level.

It’s only by fully canceling education debt that we can address the root injustices of our student debt crisis.

Thank you for fighting for economic and racial justice for all.

Always serving you,

Rashida