Washington, D.C. – In response to President Biden’s scholar debt reduction plan, MoveOn Government Director Rahna Epting issued the next assertion:
“President Biden’s government order, canceling $10,000 in federal scholar debt for many debtors, canceling $20,000 in loans for Pell Grant recipients, reforming income-based compensation plans to profit debtors, and increasing the cost pause till the top of the 12 months, marks the most important and boldest motion a president has ever taken to supply scholar debt reduction to struggling households.
“The manager order will give hundreds of thousands of individuals reduction from having to decide on between mortgage funds and primary requirements like housing, meals, and medication.
“This is a matter that’s vital and deeply private to hundreds of thousands of MoveOn members who, over the previous a number of years, have signed dozens of petitions about it, made numerous calls to members of Congress and the White Home, organized actions in D.C., and voted for Biden in report numbers. Seventy-six % of MoveOn members who’re new voters informed us they’re extra more likely to vote for Democrats if $50,000 in debt is canceled per borrower.
“We thank the Biden administration for taking this historic first step, and we’ll proceed to advocate not just for further reduction however for a basic restructuring of our training financing system to make sure that this staggering societal problem is completely resolved. Future reduction efforts should go additional to handle the skyrocketing scholar debt disaster that challenges academic and financial well-being, fairness, and mobility for an amazing variety of working individuals and their households. Extra mortgage reduction with out bureaucratic means testing can be a lifeline to individuals who have been hit arduous by the pandemic and inflation—together with seniors on a restricted earnings and, particularly, Black and brown People, who’re disproportionately burdened by scholar mortgage debt.”
###
MoveOn is a people-powered pressure for progress. MoveOn mobilizes the left to elect Democrats and enact progressive change. We’re the homebase for hundreds of thousands of members who refuse to simply accept the established order and are moved to take motion. For greater than a technology, MoveOn has been a bulwark in opposition to the unconventional proper, channeling our voices to finish wars, shield democracy, and advance justice for all.
