Statement on Student Loan Debt Relief

Forgiving student debt is a long-overdue measure that will have a net-positive impact on relieving economic, racial and gender inequality. There is no doubt canceling student debt advances racial economic justice. Black women hold the most student loan debt in the US. But does this measure do enough? ...

That's a different question. And the answer is a clear no. There is no doubt that this measure helps, but it only for a limited fraction that attended college. Biden's announcement still leaves 74% of Black borrowers with student debt, with little impact upon the massive racial wealth divide. This is little more than a short-sited political strategy for the midterm elections, and doesn't address structural inequality.

It’s time for the U.S. government to recognize and atone for its role in creating racial wealth inequality and enact the bold policy changes we need like reparations, healthcare for all, living wages, and more. There is still much work to do. And as our Director, Jeannette Huezo, once said, “If the rules, laws and policies in the U.S. were made by people, they can be changed for people as well.”






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