Friend,

President Biden just made a long-awaited announcement on the future of student debt: On top of the payment pause being extended to December 31, borrowers who make less than $125,000 a year will receive up to $10,000 in federal student loan debt cancellation. 

Not just that — President Biden announced that Pell Grant recipients will receive up to $20,000 in federal student loan debt cancellation.

President Biden also announced that if you have undergraduate loans on an income-drive repayment, you’ll be able to cap the repayment at 5% of your monthly income.

This is huge. By canceling at least $10,000 for these eligible Americans, the Biden administration is eliminating the federal student loan debt of roughly a third of borrowers. 

The Biden administration and Democrats in Congress have been leaders on student debt. Since President Biden took office, no American has been obligated to pay their federal student loan payments. And with today’s announcement, President Biden and Democrats are continuing that leadership.

Today, it’s never been more clear that when young people elect leaders that hold similar values to us, real change is enacted. 

Act now: Volunteer with us as we work to ensure this progress continues by advocating for progressives up and down the ballot this midterm election season.

This victory is because of the pressure and work from organizers and activists like yourself. You shared your stories, signed petitions, and showed up on the ground to hold President Biden to his promise of canceling federal student loan debt. And the actions of President Biden and Democrats show us that they’re listening. 

For millions of Americans, this announcement from President Biden is life-changing. Without the burden of student debt, so many Americans will be able to start building the lives they’ve envisioned. 

Americans deserve to see this progress continue. We’re going to continue to fight for economic relief for young people, and elect candidates that champion this fight. 

Today, we’re celebrating this win. Tomorrow, we’ll be back out on the ground to continue this momentum toward the 2022 midterm elections. Will you join us?

Thank you for everything you do,

NextGen America