The resumption of student loan payments after a three-year break, is likely to deliver a blow to American economic growth, according to economists, in a move that could harm many beyond borrowers alone.
"The Supreme Court's decision is another boulder on the chests of millions of Americans burdened by the suffocating weight of lifelong student loan debt."
"Any action, plan, or agenda not rooted in equity to address the student loan debt crisis undermines America’s legitimacy in being a world leader that truly cares about the future of its people."
"Black student debtors "are 16 percent more likely to be in default or seriously delinquent than white student debtors; Latino borrowers are 8 percent more likely."
“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.”
“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."
“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."
"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."
The policy platform outlines actions that address environmental justice, just recovery from disasters, equity accounting in climate policy, and energy democracy.
Over 100 community, civil rights, consumer, and student advocacy organizations urge House and Senate leadership to insist on student debt cancellation for all borrowers during negotiations over the next coronavirus relief package.
12 years after entering college, white men have paid off 44% of their student-loan balance on average, according to an analysis released last year by Demos, a left-leaning think tank.
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%.