Now It’s Time for Everlasting Debt Reduction
Washington, D.C. – In response to President Biden extending the cost pause on federally held scholar loans, MoveOn Govt Director Rahna Epting issued the next assertion:
“This can be a welcome and wanted announcement by the White Home to increase the cost pause on scholar loans, given how damaged the scholar mortgage system is. Resulting from Congress’ continued inaction, we strongly urge President Biden to construct on his management on this subject and supply tens of tens of millions of People everlasting reduction via an government order on scholar debt cancellation.
“The moratorium will proceed to provide tens of millions of individuals short-term reduction from having to decide on between mortgage funds and fundamental requirements like housing, meals, and medication. However right this moment’s transfer nonetheless doesn’t deal with the general skyrocketing scholar debt disaster that challenges academic and financial well-being, fairness, and mobility for an awesome variety of working individuals and their households. Mortgage reduction could be a lifeline to individuals who have been hit laborious by the pandemic and inflation—particularly Black and brown People, who’re disproportionately burdened by scholar mortgage debt, in addition to seniors on a restricted revenue.
“This is a matter that’s essential and deeply private to tens of millions of MoveOn members who, over the previous a number of years, have signed dozens of petitions about it, made numerous calls to members of Congress and the White Home, and arranged actions in D.C. to push for scholar debt cancellation.”
MoveOn, one of many largest unbiased progressive advocacy teams in america, mobilizes tens of millions for a greater society—one wherein everybody can thrive. Whether or not via supporting candidates, passing laws, or altering our nationwide tradition, MoveOn members are dedicated to mobilizing collectively for an inclusive and progressive future marked by equality, sustainability, and justice.