OfTheCross
Veteran
The framing of this is weird to me. Is it not the case that student loan forgiveness will benefit upper-middle class Whites more than anything since they carry the most average debt?
WASHINGTON, D.C. — Today, Congressional Black Caucus Chairwoman Joyce Beatty and members of the Congressional Black Caucus issued the following statement on the call for student loan debt cancellation:
"The $1.7 trillion student loan debt crisis is a racial and economic justice issue disproportionately impacting Black communities across the nation. We are calling on the Biden Administration to implement broad-based student loan debt cancellation by executive action. We are committed to working with the Administration to explore all options and we are requesting to meet with the President,” said Congressional Black Caucus Chairwoman Joyce Beatty. “This is a crisis created through policy decisions, and we have a responsibility to address it head-on. Canceling student loan debt is one of the most impactful ways to address ongoing economic and racial inequities plaguing our nation. As representatives of more than 17 million Black Americans and 80 million Americans, the urgency of this moment requires we move with intention. In order to reduce the racial wealth gap and advance a just and equitable economic recovery for all, we must alleviate the burden of student debt. Nothing is off the table, except inaction.”
www.businessinsider.com
This comes after the Congressional Hispanic Caucus met with Biden last month, and builds on the message from many Democratic lawmakers that canceling student debt will amplify racial justice in the country. Recent data from Massachusetts Sen. Elizabeth Warren's office, for example, found $10,000 in relief would wipe out balances for 2 million Black borrowers, and $50,000 in relief would reduce the share of Black people with student debt from 24% to 6%, narrowing the Black-white gap.
Hmm...upon further analysis...maybe I'm not against the $10,000 forgiveness
Congressional Black Caucus
The Congressional Black Caucus (CBC) has been committed to using the full Constitutional power, statutory authority, and financial resources of the federal government to ensure that African Americans and other marginalized communities in the United States have the opportunity to achieve the...
cbc.house.gov
WASHINGTON, D.C. — Today, Congressional Black Caucus Chairwoman Joyce Beatty and members of the Congressional Black Caucus issued the following statement on the call for student loan debt cancellation:
"The $1.7 trillion student loan debt crisis is a racial and economic justice issue disproportionately impacting Black communities across the nation. We are calling on the Biden Administration to implement broad-based student loan debt cancellation by executive action. We are committed to working with the Administration to explore all options and we are requesting to meet with the President,” said Congressional Black Caucus Chairwoman Joyce Beatty. “This is a crisis created through policy decisions, and we have a responsibility to address it head-on. Canceling student loan debt is one of the most impactful ways to address ongoing economic and racial inequities plaguing our nation. As representatives of more than 17 million Black Americans and 80 million Americans, the urgency of this moment requires we move with intention. In order to reduce the racial wealth gap and advance a just and equitable economic recovery for all, we must alleviate the burden of student debt. Nothing is off the table, except inaction.”
The Congressional Black Caucus calls for 'broad-based' student debt cancellation as Biden inches closer to a decision
The powerful group is seeking a meeting with Biden who is weighing at least $10,000 in student loan debt forgiveness.
www.businessinsider.com
This comes after the Congressional Hispanic Caucus met with Biden last month, and builds on the message from many Democratic lawmakers that canceling student debt will amplify racial justice in the country. Recent data from Massachusetts Sen. Elizabeth Warren's office, for example, found $10,000 in relief would wipe out balances for 2 million Black borrowers, and $50,000 in relief would reduce the share of Black people with student debt from 24% to 6%, narrowing the Black-white gap.
Who Are the Federal Student Loan Borrowers and Who Benefits from Forgiveness? - Liberty Street Economics
The pandemic forbearance for federal student loans was recently extended for a sixth time—marking a historic thirty-month pause on federal student loan payments. The first post in this series uses survey data to help us understand which borrowers are likely to struggle when the pandemic...
libertystreeteconomics.newyorkfed.org
Hmm...upon further analysis...maybe I'm not against the $10,000 forgiveness
