Higher education leaders, instructors, and advocates continue their calls for the Biden Administration to permanently cancel student debt.
The issue is one that advocates believe – and research suggests – will significantly narrow the racial wealth gap and boost GDP.
“Far from a boon to the already-wealthy, the vast majority of the benefits of universal debt discharge would go to the bottom 20% of households. The largest impact, in proportion to household wealth, would be on Black and Latinx families and communities, and women in those communities, in particular, who hold the disproportionate share of the debt load,” the petition from Debt Collective reads.
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