Student loan debt in our country now totals $1.77 billion, a moral hazard that impacts over 40 million borrowers.
Yesterday, President Biden unveiled a new plan to offer complete or partial relief to over 25 million of them — including a category Alexandria personally fought to include: borrowers experiencing undue financial hardship from significant medical expenses, childcare expenses, skyrocketing cost of living, and more.
This is huge.
This brings hope for people to buy a house, or have a kid, or travel abroad, or maybe even go back to school and pursue a career that they otherwise wouldn't have.
No person should have to go into lifelong debt in order to get an education.
Student debt cancellation is a racial justice issue. Black and Latino borrowers are 3 times more likely to default on student loan payments than their white peers. If passed as proposed, the new plan would help remove barriers to equity and stability for millions of working families across the country as soon as this fall.
Together we can keep up the pressure on President Biden to not only do what's in the best interest of our nation's economy, but also what is morally right: cancel student loan debt permanently.
In solidarity,
Team AOC
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Email us: speak@ocasiocortez.com
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