President Joe Biden promised to cancel at least $10,000 in student debt per borrower in student debt per borrower while on the campaign trail. Nearly a year into his first year as president, President Biden has yet to make good on this campaign promise. This particular promise has a deep impact on many in the BIPOC community, making the student debt crisis a civil rights and racial justice issue.
President Biden can cancel student debt – right now.
In December 2021, President Biden extended the suspension of student loan payments until April 30, 2022. On May 1, student loan payments will restart. President Biden should extend the suspension for as long as we are in this pandemic. We are calling for the cancellation of the $1.6 trillion in student debt held by 46 million Americans, and we support Congressional leaders’ calls for President Biden to cancel $50,000 of student debt per borrower.