With a stroke of a pen, President Biden can cancel all student debt.
The weight of student loan debt has caused many hardships for Americans across the country — but has had a disproportionate impact on Black students and families. All the while, for decades, Black people have been told that the way to get out of poverty and achieve middle class status is by getting a college education, but at what cost?
Let’s be clear: Our current higher education system doesn’t eliminate racial income gaps, it actually reinforces it. It widens it.
The weight of student loan debt prevents too many Black people from saving money for a house or retirement, paying medical bills or rent, or even affording expenses like groceries and child care.
That’s why it’s time for President Biden to take action toward canceling ALL student loan debt. He has the power to alleviate the crushing financial pressure felt by millions of Black students and families across the country, and this would be a major step in closing the racial wealth gap and achieving Black liberation.
Canceling student loan debt plays a major role in achieving liberation for Black people. Will you add your name to our petition calling for President Biden to immediately take action in forgiving all student loan debt?
Black women are enrolled in college at a higher percentage than any other group — but at the same time, Black women hold 20% more student loan debt than their white counterparts. Right now, one white family has roughly 10 times the amount of wealth as a Black family, while white college graduates have over 7 times more wealth than Black college graduates.
The pause on federal student loan payments due to COVID-19 isn’t enough. It’s long overdue for President Biden to fulfill his campaign promise and show his gratitude to Black women by eliminating all student loan debt.
Student loan relief is a necessary step towards Black liberation. It allows Black families to build intergenerational wealth and close the existing racial wealth gap. Biden has the power to cancel it all and we’re calling on him and his administration to do just that.
Sign on to join the movement. Demand the Biden administration cancel all student loan debt.