Posted inBusiness, Campus, National

Student loan borrowers and advocates agree: Cancel student debt, 84% of student borrowers call for $50K debt cancellation

On May 1, the federal pause on student loan repayments is set to expire. One of President Joe Biden’s first executive actions exercised his authority granted in the Higher Education Act. As the end of the extension nears, an estimated 44 million student loan borrowers and their collective $1.6 trillion debt will soon be affected. But a broad and diverse national coalition of more than 140 advocates is urging Education Secretary Miguel Cardona to take a further step: cancel student debt mired in its varied income driven repayment (IDR) programs. Black borrowers are a vocal part of the effort to eliminate the unsustainable financial burden.

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