After the Supreme Court struck down President Biden’s plan to forgive up to $20,000 of student debt per person, the Department of Education has officially announced its new plan for widespread debt relief. If passed:

• Up to $20,000 of a borrower's accrued interest could be canceled, regardless of income;

• Individuals making less than $120,000 or couples making less than $240,000 who are enrolled in an income-driven repayment plan could have all of their interest forgiven;

• Support would be available for 2.6 million borrowers who still have outstanding debt on old loans that entered repayment at least two decades ago.

But before any of this can happen, there will be an official public comment period on these proposed regulations – which is why we need to take this opportunity to make it clear how much public support there is for student debt forgiveness!

Student loan forgiveness isn't only about relief for people today. It's about social mobility, fairness, economic prosperity, and allowing people to live up to their dreams.

Sign your name here to support student debt forgiveness & co-sign Rise’s public comment! Our team will submit each comment to the Department of Education >>

RISE's Public Comment:

The national college affordability crisis is an issue that permeates almost every aspect of American life. The financial obstacles that prevent young people from attaining a college degree perpetuates racial, social, and economic disparities, and the debt that millions of young people are saddled with as a means of accessing higher education perpetuate cyclical debt, while preventing far too many people from advancing along their economic futures.

Alleviating this crisis is one way to begin to dismantle the systemic inequities that exist as a by-product of our nation’s unjust history and finally live up to the true American dream. That’s why we fully support the Department of Education’s new plan to forgive up to $20,000 per borrower through the Higher Education Act – as well as outright forgiving debt for people making less than $120,000.

Time is of the essence. Millions of people are struggling with student debt payments as we speak, while others are delaying higher education because of the prohibitively high cost of access. President Biden promised support for students and borrowers, and we are excited to see those plans come to action.