President Biden announced thousands of dollars of student loans will be canceled.
Today's announcement will change lives, John.
This afternoon, President Biden announced thousands of dollars of student loans will be canceled. Here are the details at a glance:
- Pell Grant recipients making under $125,000 per year will be eligible for $20,000 in forgiveness.
- Non-Pell Grant recipients making under $125,000 per year will be eligible for $10,000 in forgiveness.
- In addition, the pause on federal student loan repayment will be extended through December 31 and those with undergraduate loans will be able to cap repayment at 5% of their monthly income.
This is a win for folks across this country, and one we owe to the tireless efforts of activists and organizations pushing for years and not letting President Biden forget his campaign promises.
But this isn't the end of our fight, and that's why as our Congresswoman, Summer will work for full student loan forgiveness. If you can, will you chip in $5 or more now to power our fight to send Summer to Congress to be an advocate for us all?
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This isn't an abstract issue for Summer. She took out her first loan at 17 when she went to Penn State as a first-generation college student and the child of a working-class mom. And like so many other first-generation college students and Black women borrowers, this debt crisis has impacted the choices Summer has made since.
Black college grads owe an average of $25,000 more in student loan debt than white college grads. If we want to bridge the racial wealth gap, we must forgive ALL student debt.
Summer has been advocating for this for years, and in Congress, she'll work to make all public colleges, universities, and vocational programs tuition-free and to cancel all student debt.
Together we will keep pushing. If you're with us, will you chip in $5 or more now to continue our momentum, keep working toward full student debt cancellation, and help send Summer to Congress?
In solidarity,
Team Summer Lee
