“Congress needs to enact bold, structural changes to the economy: It must cancel student debt for borrowers who have yet to recover from the epidemic of structural racism.”
A move to cancel student debt for borrowers, especially Black and Brown students, who could not draw upon the equity in a family home or other savings will put more spending money in people’s pockets at a moment when the economy desperate needs it. Otherwise, student borrowers without wealth—the sum total of the value of assets minus debt—to fall back on could face decades of hardship. Black people know this truth all too well.., our team is continuing to report through this global health crisis—doing what we can to keep you informed and up-to-date on some of the most underreported issues of this pandemic. —we can’t do it without you.