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Photo by Mikael Kristenson on Unsplash

Statement: The Education Department must ensure all borrowers benefit from the suspension

While it’s encouraging to see the Department act to protect over one million defaulted borrowers from seized tax refunds and wage garnishment, they must not leave behind the 5.5 million commercial FFEL borrowers who aren’t in default. An estimated 9 million borrowers total have been left out of the federal student loan suspension through no fault of their own. There is bipartisan support for ensuring no federal student loan borrowers areunfairly left behind; the Department must use its authority to protect all federal student loan borrowers.

an empty university auditorium

Statement: The Education Department must automatically cancel debt for borrowers eligible for disability discharges

The Department of Education’s actions today halt harms to borrowers that should never have happened. The Department must act next to affirmatively improve borrowers’ realities. The Trump administration, through executive action, made Total and Permanent Disability discharges automatically available to eligible veterans unless they opted-out. The Biden Administration must similarly act to make TPD discharges automatic for the estimated 400,000 borrowers eligible for relief who have not yet received it. 

Photo by Mikael Kristenson on Unsplash

Joint Statement: Coalition Applauds Bicameral Resolution Calling on Biden to Cancel $50K of Student Debt

We, the undersigned 50 organizations, applaud Majority Leader Chuck Schumer, Senator Elizabeth Warren; Representatives Pressley, Adams, Bowman, Jones, Omar, and Torres; and Chairwoman Waters for their bicameral resolution urging President Biden to take executive action to cancel up to $50,000 in federal student loan debt using legal authorities already granted by Congress. Cancelling student debt will provide both immediate financial relief to millions of Americans and crucial economic stimulus for everyone during this protracted crisis. This action would also boost GDP and job creation at a time of intense labor shocks and economic uncertainty.