From Civic Action (https://www.civicaction.com/):
Student debt is totally out of control in our country. Right now, there are over 45 million Americans who hold student loans (adding up to more than $1.7 trillion in debt) and who aren’t able to spend that money in their local economies. Right now, they’re all anxiously awaiting a decision from President Biden on the student loan forgiveness plan that he’s been touting since he hit the campaign trail in 2019. A simple stroke of President Biden’s pen has the potential to restructure the American economy and lift millions of hardworking Americans out of crippling debt.
Here’s what we know: President Biden will take action on student loans before the midterm elections in November. Here’s the issue: President Biden wants to create a program to provide support for anyone earning under a certain income threshold, which creates unnecessary bureaucratic hurdles and will lead to fewer low-income borrowers receiving support they need – all because some extra steps might be added to what should be a simple process.
That’s why Civic Action is calling on President Biden to cancel student loans with no barriers – and we need 10,000 advocates like you to join us. Will you sign our petition now at https://actionnetwork.org/forms/sign-the-petition-to-president-biden-no-barriers-to-student-debt-relief?
American student loan borrowers have been fed a lie. They’ve been told that if they went to college, got a degree, and worked hard, they would eventually be able to pay off student loans and find financial stability. While that may have been the case 40 years ago, decades of trickle-down policies have left Americans with lower wages – all while tuition has skyrocketed, making it next-to-impossible for some Americans with college degrees to pay off their debt.
Student debt forgiveness isn’t just the right thing to do morally; it’s also good for the economy. Canceling monthly student loan payments means that Americans will have more money in their pockets to spend at local restaurants, shops, and more. The money they spend at local businesses will allow those businesses to hire more people, who will then spend their extra money investing in the same community. And the more people whose debt is canceled, the wider the impact of such a policy – it’s a virtuous cycle that will only strengthen the economy of our country as a whole.
The bottom line is that President Biden has an incredible opportunity to create booming, middle-out economic growth by canceling student loans with no barriers. We just need advocates like you to give President Biden one final push to get this policy across the finish line: Please, add your name to our petition now to convince President Biden to cancel student loans.
Leave a Reply