First of all, I want to thank you for extending the moratorium on federal student loan payments.
But as of May 1st, without further action borrowers will once again be forced into repayment. The Biden campaign ran on the promise of canceling $10,000 in federal student loan debt for borrowers, but has yet to fulfill that promise.
Canceling student debt is both strategically smart and morally urgent.
Student debt crushes our economy (over $1.7 trillion worth), and defers hopes and dreams: people cannot buy a home, start a business or start a family because they can't afford it. As we struggle to survive the pandemic, canceling student debt would be the greatest economic stimulus to help us build back better.
And all it requires is the presidential stroke of a pen.
As Congress fails to deliver legislation to help Americans, President Biden can deliver right away by canceling $50,000 per student in debt. Senate Majority Leader Chuck Schumer and many others have been urging him to do so for months. Do it! Thanks.