CFA applauds President Biden for extending the pause on federal student loan payments through September. This relief has been a game changer for many workers struggling with repaying student loans during COVID-19 and the pandemic’s financial impact. Even with a new president in office, efforts to cancel all student debt continue. Research shows that students of color and those from low-income families bear the largest burden of student debt.
“Students of color are more likely to take on student debt and disproportionately struggle to pay it back at higher rates than their white counterparts, perpetuating a “vicious cycle” of economic inequality along racial lines,” according to the Student Borrower Protection Center.
CFA urges members, students, and allies to sign this petition pressing President Biden to cancel student debt. Student loan debt is a major barrier to higher education for many Americans, and it’s time to ensure everyone can follow their dreams.