BREAKING: $10k in student debt will be cancelled for millions

And while we may have just won this critical, unprecedented victory, the fight for a more fair and just education system is just getting started. 

Dear MoveOn member,

After years of calls for action from activists and advocates, President Biden just announced that his administration will be cancelling $10,000 in federal student loan debt per borrower with an income under $125,000/yr, with an additional $10,000 for Pell Grant recipients with federal student loans meeting that same income threshold. He also announced an extension of the student loan payment pause, until December 31 of this year.¹

Today, 43 million borrowers owe a total of more than $1.6 trillion in student debt. With this announcement, President Biden has taken a critical first step in addressing one of the most pressing economic issues impacting Americans.²

MoveOn members have been absolutely instrumental in this decision. In the last decade, members like you have been at the forefront of the movement demanding student debt relief, alongside partners such as the Student Debt Crisis Center, NAACP, We, the 45 Million, the Debt Collective, the Student Borrower Protection Center, and so many others.

Now, will you add your name to this petition to call on the Biden administration to finish the job as soon as possible and cancel all student debt, to deliver permanent relief to millions of struggling families across the country!

Here are some of the powerful actions MoveOn members have taken as a part of the larger community of progressives working for student debt cancellation:

• Together, we gathered over 4 million petition signatures demanding student debt relief.³
• Thousands of MoveOn members called their members of Congress urging them to support student debt cancellation.
• Hundreds of student borrowers recorded audio testimonies and over 50 recorded video testimonies outlining why the stakes of this debt are so high.^{4, 5}
• And over the last year, hundreds of MoveOn members have supported monthly demonstrations in front of the White House, keeping up the pressure on the Biden administration to cancel student debt.

And while we may have just won this critical, unprecedented victory, the fight for a more fair and just education system is just getting started.

MoveOn members will continue to advocate on behalf of borrowers—ultimately, for even more student debt cancellation. And we won't stop until the twin evils of predatory lending practices and ever-increasing tuition costs that result in college being systemically unattainable for so many (especially Black and brown folks) are addressed.

Every person living in this country deserves the opportunity to pursue higher education without the risk of spending the rest of their lives in debilitating debt. Together, we can keep fighting until this is our reality. Will you sign the petition thanking President Biden and urging him to finish the job and cancel all student debt?

Thanks for all you do.

–Arvin, Jaira, Liz, Mana, and the rest of the team

Sources:

1. Tweet by President Biden, August 24, 2022
https://act.moveon.org/go/166274?t=10&akid=330833%2E53570607%2E_XfCkc

2. "2022 Student Loan Debt Statistics: Average Student Loan Debt," Forbes, updated June 9, 2022
https://act.moveon.org/go/166240?t=12&akid=330833%2E53570607%2E_XfCkc

3. Student Debt Crisis Center, MoveOn Partnerships, accessed August 24, 2022
https://act.moveon.org/go/166237?t=14&akid=330833%2E53570607%2E_XfCkc

4. Instagram post, MoveOn, August 20, 2022
https://act.moveon.org/go/166238?t=16&akid=330833%2E53570607%2E_XfCkc

5. MoveOn Stories, Student Debt, accessed August 24, 2022
https://act.moveon.org/go/166239?t=18&akid=330833%2E53570607%2E_XfCkc

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