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What do we mean by "student debt cancellation?"
Wondering where Biden actually gets the authority to cancel student debt?
Follow along in this thread as we breakdown how @JoeBiden can cancel ALL student loan debt through executive action! #CancelStudentDebt
Wondering where Biden actually gets the authority to cancel student debt?
Follow along in this thread as we breakdown how @JoeBiden can cancel ALL student loan debt through executive action! #CancelStudentDebt
We are demanding @JoeBiden cancel ALL student loan debt.
Today, the total student loan debt number sits at $1.7 trillion. Over 45 million Americans owe student loans, and about 65% of recent college students graduate with some amount of student loan debt. This is a crisis.
Today, the total student loan debt number sits at $1.7 trillion. Over 45 million Americans owe student loans, and about 65% of recent college students graduate with some amount of student loan debt. This is a crisis.
You might ask, "where does @JoeBiden get the authority to cancel student loan debt?"
If you guessed The Higher Education Act of 1965 then you are correct! The Secretary of Education (part of executive branch- hi Joe!) has the authority to cancel student loans. #CancelStudentDebt
If you guessed The Higher Education Act of 1965 then you are correct! The Secretary of Education (part of executive branch- hi Joe!) has the authority to cancel student loans. #CancelStudentDebt
How did we get here?
In 1965, President Lyndon B. Johnson signed the Higher Education Act. Newly proposed regulations amending the Higher Education Act and increasing the federal government’s role in subsidizing education have become increasingly popular over the past few years.
In 1965, President Lyndon B. Johnson signed the Higher Education Act. Newly proposed regulations amending the Higher Education Act and increasing the federal government’s role in subsidizing education have become increasingly popular over the past few years.
For decades, higher education has been systematically defunded. Wages have remained stagnant despite the costs of college substantially increasing. Paying back student loans has gotten harder and harder. People need help NOW.
The student loan burden is especially heavy on Black borrowers, who generally carry more debt
This decade, median student debt for young white borrowers w a bachelor’s degree grew from $12k to $23k. It quadrupled for Black borrowers from $7k to $30k
This decade, median student debt for young white borrowers w a bachelor’s degree grew from $12k to $23k. It quadrupled for Black borrowers from $7k to $30k
There are a few different student debt cancellations - Biden's originally proposed a $10k student loan debt cancellation.
Other Democratic Representatives have proposed cancelling up to $50k of student loans.
Other Democratic Representatives have proposed cancelling up to $50k of student loans.
