Sign the petition to President Biden: Cancel student debt.

Studentdebt

The petition President Biden reads:

"Take immediate executive action to cancel at least $50,000 per borrower in federal student debt."


The Biden-Harris administration has wasted no time in taking concrete steps to address the economic, health, racial justice and climate crises facing the American people.

One of those important steps is pausing student loan payments and interest through September. But Biden hasn’t yet followed through on his promise of “an immediate cancellation of a minimum of $10,000 of federal student loan debt.”

Can you sign our petition urging Pres. Biden to take immediate executive action to cancel and forgive student loan debt?

Tell President Biden: Cancel student debt now.

Last fall, Senators Chuck Schumer and Senator Elizabeth Warren introduced a resolution calling on the next administration to take executive action to cancel $50,000 in federal student loans for individual borrowers.

Then, on January 15, more than 300 organizations led by Americans for Financial Reform, the Center for Responsible Lending, Demos, the National Consumer Law Center, and the Student Borrower Protection Center sent a letter to the Biden administration urging it to “cancel federal student debt on day one” on the new administration. While it’s too late for Biden to cancel student debt on day one, the letter highlights three reasons to cancel student debt now:

  • Student debt exacerbates existing racial inequities; cancellation will help reduce the racial wealth gap.

  • Cancellation will provide a much-needed economic stimulus.

  • Federal student debt cancellation could have a positive impact on health outcomes.

There are many policies the Biden administration needs help from Congress to enact – but this isn’t one of them. Under the Higher Education Act, the Secretary of Education has the authority to cancel federal student debt administratively, with no action needed from Congress.

Can you add your name to our petition urging the Biden administration to take immediate action to cancel federal student loan debt?