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Friend, After a few weeks of uncertainty, President Biden announced that the moratorium on student debt payments would be extended from May 1st to August 31st – setting up for yet another wave of uncertainty sometime around mid-August. Look, this is better than nothing. When polled, about 95% of people who have student debt said that they are not ready to restart payments. Can you blame them? With rising inflation and stagnant wages, a new bill for a few hundred dollars a month is A LOT. But there’s a pretty easy solution here: Cancel it. All of it. We’ve spent nearly two years with stopped payments and the sky didn’t fall – and Biden has the power to lift this massive burden off of millions of Americans. As long as we keep kicking the can down the road and issuing extensions for student loan debt, we’re not dealing with the fundamental problem here. Millions of people aren’t able to invest in themselves or their families because the threat of repayment is still hanging over their head. That’s true in May, that’ll be true in August, and it’ll be true until their debt is gone. And in so many cases, it’s not even their fault. Between predatory student loan collectors and a wildly confusing system, some people don’t even know they have outstanding debt. All they wanted was a higher education to help them be a better part of society. The student debt crisis IS a racial and social justice issue, because of its deep impact on Black and Brown communities across the country. We can’t just let President Biden ignore his promises and his potential impact towards so many who need help. For future generations, Team Hip Hop Caucus |
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| PAID FOR BY HIP HOP CAUCUS |
