U.S. Rep. Donald Payne, Jr. (D-10) is urging the President Joe Biden (D) administration “to cancel student debt in what would be a historic move for racial justice.
“Forgiving student loan debt is the right policy approach to relieve millions of young people from a devastating financial burden that makes it nearly impossible for many of them to buy a home, start a family and advance in their lives and careers,” Payne said in a statement
. “Studies show that Black and Hispanic college graduates have an average of $25,000 more debt than white borrowers, and Black women have the highest levels of student debt of any group. I urge the Biden Administration to take Executive Action to cancel student debt in what would be a historic move for racial justice.”
After a meeting with the Congressional Hispanic Caucus last month, reports indicated that Biden may be more seriously considering a move to cancel student debt, in keeping with his campaign promise to eliminate up to $10,000 for student borrowers.
Democratic organizations in New Jersey have followed the call as well.
“The burden of student loan debt presents a huge challenge for young people all across the country. By forgiving student debt, President Biden would be making a life changing difference for millions of people who have had to make sacrifices in their careers and families due to the crushing burden of the debt that they took on in order to pursue an education,” added New Jersey Young Democrats President Fatima Heyward.
“I’m very thankful to Congressman Payne for supporting this bold, progressive policy initiative and I join him in urging President Biden to cancel student debt and open countless economic opportunities for so many people.”
CBS News reported on Friday that Biden is expected to have a decision on student loan forgiveness soon.