CFA Joins Coalition in Urging President Biden with Greater Urgency to Cancel Student Debt

CFA joined 105 groups in lifting up earlier calls for President Biden to cancel student debt before the end of the payment pause enacted at the onset of the COVID-19 pandemic. The groups urged that until widespread cancelation takes place the President should continue the payment pause that has been a lifeline for millions. Canceling student debt is an opportunity to realize the full promise that higher education can provide by allowing each person to build wealth for themselves and their families. In addition, it will also be a down payment towards fixing the broken higher education system. Broad-based debt cancellation remains the best way to tackle the built-up problems that have caused the student debt crisis. It was also the approach you endorsed during the campaign. In addition, canceling student debt would work to address longstanding issues of systemic inequality that have left Black and Brown borrowers with more debt and less wealth, as well as stimulate the economy in ways that would benefit the entire country.