1. United States
2. Letter

The student debt crisis has reached a tipping point, severely impacting millions of Americans and hindering economic growth. It is imperative that we take decisive action towards total student debt cancellation. The staggering $1.7 trillion in outstanding student loan debt is not only a burden on individuals but also a drag on the entire economy. Student loan borrowers face immense financial strain, often struggling to make ends meet, unable to build savings, or achieve financial milestones like homeownership. This debt burden disproportionately impacts marginalized communities, exacerbating existing inequalities. Total student debt cancellation would provide immediate relief, allowing borrowers to invest in their futures, stimulate economic growth, and reduce the racial wealth gap. Moreover, the current system of repayment and loan servicing is plagued by mismanagement, errors, and predatory practices. Numerous reports have highlighted the unnecessary obstacles and confusion borrowers face, further compounding the crisis. A comprehensive solution through total cancellation is imperative to address these systemic failures. The economic benefits of student debt cancellation are clear. It would boost GDP, create jobs, and provide a substantial stimulus to the economy. Furthermore, it would alleviate the mental health toll and stress on millions of Americans, allowing them to pursue their dreams and contribute fully to society. Therefore, we urge you to take immediate action and champion total student debt cancellation. This crisis demands bold and decisive leadership to provide relief to borrowers, address systemic inequalities, and unlock the full potential of the American people.