ACLU Supports Bicameral Resolution Calling for Student Debt Cancellation

WASHINGTON — Majority Leader Chuck Schumer and Sen. Elizabeth Warren, along with House Reps. Ayanna Pressley, Maxine Waters, and others, reintroduced a bicameral resolution today calling on President Biden to use existing executive authority to cancel up to $50,000 in federal student loan debt per borrower. Currently, more than 40 million Americans hold more than $1.6 trillion in federal student loan debt.

The following comment is from Rakim Brooks, ACLU campaign strategist:

“Millions of Americans are impacted by the student debt crisis, and this debt burden falls heaviest on Black Americans — especially Black women. Black Americans face innumerable barriers to building generational wealth and overcoming job discrimination in this country, and as a result, are forced to take out thousands of dollars in student loans to stabilize their families and get ahead. In other words, for Black Americans, the American dream costs more. Canceling student debt is a crucial step to addressing this inequity and will immediately help close the racial wealth gap.”