20 percent of adult Americans carry student loan debt.
That’s right. One in five.
Student loan debt has soared from $260 billion in 2004 to $1.6 trillion as of 2019. The average undergraduate student’s debt burden is $38,000, and that’s just the principal before interest.
This is a crisis of catastrophic proportions. And we need to tackle it, before it’s too late.
Sign here to support canceling student debt.
Since Congress privatized the student loan industry a generation ago, our students have become just another profit center for Wall Street. This predatory system feeds our nation’s cycle of inequality.
Congress enacted one law after to make college and university debt the worst kind of debt for students, and the best kind of profit for banks and debt collectors.
Today, just about everyone involved in the student loan industry makes money off students – the banks, private investors, even the federal government.
We are crippling generations of Americans for seeking an education they were told they had to have in order to succeed. Now, graduates saddled with debt are working multiple jobs, and delaying marriage, families, and home ownership.
Middle-of-the-road candidates will tell you that canceling student loan debt is not affordable, that it’s too extreme, that it’s not fair.
What’s not fair is our system of corporate greed and profiting off students’ desire to better themselves.
Experts believe that student loan defaults have the potential to trigger another recession. This is a crisis that touches every one of us, whether we carry the debt burden or not.
Any candidate who tells you we can’t cancel student debt is willing to risk another crippling recession just so they can rake in money from their Wall Street donors. Sign here to say: it’s time to cancel student debt.
I am not beholden to Wall Street, or any other corporate interest. I am beholden to you. I wouldn’t have it any other way. Thank you for being part of this people-powered movement.
In Solidarity,
Betsy Sweet
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Betsy Sweet for U.S. Senate
PO Box 487
Hallowell, ME 04347
United States
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