Moms Applaud Biden Move to Forgive $10,000 in Student Loan Debt as a Good Start in Helping Moms and Families
“Tens of millions of us are carrying unmanageable student debt, with women carrying nearly two-thirds of it and Black women most severely burdened. That debt affects every aspect of our lives, including our ability to care for our children, buy homes, and save for retirement. At this time when the cost of gasoline, food, housing, and nearly everything else has skyrocketed, we looked to President Biden to provide relief and today he delivered. The action he took today – to extend the moratorium on repayment through December 31, forgive $10,000 in student loan debt for people who earn less than $125,000 (and households that earn less than $250,000) per year, and forgive $20,000 for Pell Grant recipients – will mean more people can pay the rent, put food on the table, and pay for health care and child care. It will boost families and our economy and help address the appalling income inequality and wealth gaps that plague our country.
“This is a good start in helping moms and families. We applaud, as well, the Biden administration’s recent actions to wipe out debt owed by public service workers, disabled borrowers, and students who were misled and defrauded by for-profit colleges and universities including ITT Technical Institute and Corinthian Colleges.
“America’s moms will, however, continue urging lawmakers to forgive more student loan debt. Freeing people from this unmanageable burden will allow many more families and communities – and our economy – to thrive.”