There is the urgency of now for Pres. Biden’s to fulfill one of his core campaign promises: the cancellation of at least $50,000 of student debt. This needs to be done before payments resume in February.
President Biden can take action unilaterally. In their letter to Biden, Senators Schumer, Warren and Pressley state that “if the payments of federal student loans resume as scheduled on February 1, 2022, approximately $7 billion a month and $85 billion annually will be stripped from over 18 million student loan borrowers’ budgets. By contrast, debt cancellation could add more than $173 billion to the nation’s GDP in the first year alone.“
Further, it will help give citizens something they desperately need at present, hope. Beyond its yielding positive effects economically, it would give citizens a reason to turn out and get more Democrats elected before the end of Biden’s term as president, both at the local, state, and national level. As stated by Astra Taylor of the Guardian (1/2/2022): “Student debt cancellation would be a win for the American people and the administration. The more loans are cancelled, the more the economy is boosted and the more the racial wealth gap narrows. It is also incredibly popular with Black voters, and even. Given that it is a midterm year, delivering on this promise should be a no-brainer.” (If the Democrats don’t shape up, Biden’s presidency will lead to a Trumpian sequel.“
Please make your calls to the White House Comment line today: Phone 202-456-1111. Or email: https://www.whitehouse.gov/contact/
“This is _________ calling from (Town/State). I’m urging President Biden to fulfill one of his core campaign promises and cancel at least $50,000 of student debt before payments begin on February 1st. In light of the pandemic, student debt is a tremendous financial and emotional strain on the working class and cancelling it would be a triple-win in stimulating the economy, narrowing the racial gap, and winning hearts and minds.”
With our democracy at stake we must demand decisive action from the executive branch now on student debt, so we can begin to wrest control of the narrative out of the hands of the opposition.
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