Dear MoveOn member,
After years of calls for action from activists and advocates, President Biden just announced that his administration will be cancelling $10,000 in federal student loan debt per borrower with an income under $125,000/yr, with an additional $10,000 for Pell Grant recipients with federal student loans meeting that same income threshold. He also announced an extension of the student loan payment pause, until December 31 of this year.1
Today, 43 million borrowers owe a total of more than $1.6 trillion in student debt. With this announcement, President Biden has taken a critical first step in addressing one of the most pressing economic issues impacting Americans.2
MoveOn members have been absolutely instrumental in this decision. In the last decade, members like you have been at the forefront of the movement demanding student debt relief, alongside partners such as the Student Debt Crisis Center, NAACP, We, the 45 Million, the Debt Collective, the Student Borrower Protection Center, and so many others.
Here are some of the powerful actions MoveOn members have taken as a part of the larger community of progressives working for student debt cancellation:
MoveOn members will continue to advocate on behalf of borrowers—ultimately, for even more student debt cancellation. And we won’t stop until the twin evils of predatory lending practices and ever-increasing tuition costs that result in college being systemically unattainable for so many (especially Black and brown folks) are addressed.
Every person living in this country deserves the opportunity to pursue higher education without the risk of spending the rest of their lives in debilitating debt. Together, we can keep fighting until this is our reality. Will you sign the petition thanking President Biden and urging him to finish the job and cancel all student debt?
Thanks for all you do.
–Arvin, Jaira, Liz, Mana, and the rest of the team
Sources:
1. Tweet by President Biden, August 24, 2022
https://act.moveon.org/go/166274?t=10&akid=330833%2E40999114%2Epk7hOi
2. "2022 Student Loan Debt Statistics: Average Student Loan Debt," Forbes, updated June 9, 2022
https://act.moveon.org/go/166240?t=12&akid=330833%2E40999114%2Epk7hOi
3. Student Debt Crisis Center, MoveOn Partnerships, accessed August 24, 2022
https://act.moveon.org/go/166237?t=14&akid=330833%2E40999114%2Epk7hOi
4. Instagram post, MoveOn, August 20, 2022
https://act.moveon.org/go/166238?t=16&akid=330833%2E40999114%2Epk7hOi
5. MoveOn Stories, Student Debt, accessed August 24, 2022
https://act.moveon.org/go/166239?t=18&akid=330833%2E40999114%2Epk7hOi
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