"To say that people post-crisis, as they try to rebuild their lives, have to carry the impact of this is just another round of disadvantage and discrimination.”
The COVID-19 crisis has cast into stark relief what has always been true: the wealth and prosperity of the U.S. economy rests on the labor, and the lives, of black and brown communities.
Twelve years after starting college, white men have paid off 44% of their student loan balances on average, while black men saw their balances grow by 11%, according to an analysis from Demos.
Twelve years after starting college, the white female borrower has paid off 72% of her loan balance. Over the same time period, the typical Black female borrower's balance has grown by 13%.
States must now take swift action to design racially equitable voting systems—including dramatically scaling up vote by mail, while also maintaining accessible in-person voting—so communities are not disenfranchised this fall.
"Imagine any financial transaction you make and someone says the price of this thing is $100,000, but you are very likely to pay nothing, but first you have to fill out all these forms."
If we are to survive this crisis—and imagine a more equitable, dynamic economy to come, we must start with a recommitment to the value of universal, inclusive public infrastructure.
Proposal to Expand Funding for Low-Income Students; Increased Access to Federal Loan Program
New York, NY — Demos, a national, non-partisan, public policy and advocacy organization, in partnership with twelve national organizations representing students, colleges, consumers, and college administrators, sent a letter to Congress on Wednesday calling for increased investment in college affordability and reducing financial barriers for entry into post-secondary education.
We need to continue to demand a government committed to protecting Black and brown communities in this moment, and need to continue to push for bold, transformative change.
“This is a microcosm of many intra-progressive, intra-left policy debates—whether it’s better to do something universal and achieve something with relative ease or ensure that only those struggling by some definition get relief."
“The student debt crisis is yet another example of the deep and structural racial injustice at that heart of our economy. It prevents Black and Brown families from building wealth and economic power and has undermined the fundamental goal of higher education as a public good."
“The actual dollar amount, it’s hard to put that at a figure that’s enough to help everyone who is struggling. And because of that, I’d err on the side of doing more.”