1. United States
2. Va.
3. Letter

I am an LCSW based in Virginia, writing as both a constituent and a mental health professional deeply concerned about the student loan crisis. It is frustrating to see Congress and the White House bail out banks and corporations while leaving individual borrowers to struggle under crushing debt. This approach harms not only voters and families, but also the financial stability of our nation. The numbers are staggering. More than 43 million Americans hold over 1.6 trillion dollars in federal student debt. As pandemic relief has ended, delinquency rates have already climbed to about 8 percent, representing 5.6 million borrowers, and economists estimate this could reduce GDP by 0.1 percent. Default risk looms for nearly 10 million borrowers, with as many as 9 million facing collections this year. These defaults ripple across the economy, weakening credit, reducing consumer spending, and threatening broader stability. The effects extend beyond finances. Student debt delays homeownership, marriage, and retirement savings. It suppresses entrepreneurship, with borrowers owing more than 30,000 dollars being 11 percent less likely to start a business. It reduces consumer spending, with every 1 percent increase in debt-to-income ratio linked to a 3.7 percent drop in spending. It also inflicts serious mental health burdens, fueling anxiety, stress, and despair. Public service workers, including teachers, nurses, and social workers, face even greater risk if protections like income driven repayment and Public Service Loan Forgiveness are weakened or eliminated. Analysts estimate such rollbacks could add as much as 250 billion dollars in debt for those dedicating their careers to serving others. Congress has acted decisively in the past to protect corporations, but has failed to bring equal urgency to ordinary citizens. Student debt relief is not only a matter of fairness, but also a matter of economic stability and national well being. I urge you to support legislation that expands affordable repayment options, protects Public Service Loan Forgiveness, and pursues meaningful debt relief to restore hope and financial security for millions of Americans. This is an urgent crisis that demands leadership. Please take visible and immediate action to protect borrowers and strengthen our economy.