“The Biden-Harris Administration’s one-time debt relief program is an overdue acknowledgement that our higher education system relies far too heavily on students taking on debt, and that existing repayment protections have been too difficult for borrowers to access and navigate. This debt-financed system has exacerbated the racial wealth gap rather than helping to close it.
“The debt relief program seeks to redress these harms, and millions of borrowers are counting on it. We strongly urge lawmakers not to block the relief. To date, the U.S. Department of Education has approved 16 million applications, and millions more borrowers are eligible. We also urge lawmakers to support the administration’s targeted efforts to improve and expand existing relief programs to protect borrowers going forward.
“We must ensure the next generation is not burdened with unmanageable debt. We urge policymakers to create a path to debt-free college by lowering college costs, protecting students from predatory colleges, and providing enough need-based grant aid so that students do not need to borrow to earn a degree or credential.”