President Biden: Cancel Student Debt for 40M+ Borrowers

We urgently call on President Biden to take decisive, immediate action to alleviate the overwhelming burden of student debt plaguing millions of Americans, particularly amidst the current uncertain and tough financial times.

Why cancel student debt now?

Canceling student debt would extend a lifeline to the more than 40 million individuals burdened by student loans and enable them to allocate resources towards their basic needs: food, shelter, and critical healthcare for their families.

The inflation crisis has unleashed a dual crisis, simultaneously unfolding as an economic emergency and colliding with the deep-rooted burden of student loan debt. Families across the nation are grappling with reduced purchasing power, rising prices, and prolonged financial insecurity. Adding the weight of persistent student debt exacerbates this situation, setting the stage for an unprecedented economic catastrophe for countless individuals.

In the long term, a student debt cancellation stimulus would help prevent or reduce the impacts of an upcoming recession. Student debt cancellation can boost GDP by up to $108 billion a year and add up to 1.5 million jobs annually.

The President must heed the urgent call of the American people and continue to prioritize relief from student debt as a cornerstone of its response to the economic crisis. Failure to act decisively would prolong the suffering of millions and threaten the nation's economic future. We urge immediate, far-reaching action to alleviate the crushing burden of student debt and pave the way for a brighter future for all Americans.