FOR IMMEDIATE RELEASE
January 25, 2022
Advocates Host Cancel Student Debt Town Hall Featuring Senator Schumer, Senator Warren and Rep. Pressley
“100 Days to Cancel Student Debt” Town Hall is part of renewed push for debt cancellation before the student loan payment pause expires in May
Student Debt Crisis Center, NextGen America, Public Citizen and MoveOn will host a virtual town hall on January 27 to showcase strong support of broad-based student debt cancellation.
The “100 Days to Cancel Student Debt” event will include remarks from Senate Majority Leader Chuck Schumer, Senator Elizabeth Warren and Rep. Ayanna Pressley, and feature messages from several congressional lawmakers as well as Americans deeply affected by the student debt crisis.
The town hall follows President Biden’s recent action extending the pause on federal student loan payments until May 1, and will call on the president to finally fulfill his campaign promise to cancel student debt for millions of Americans. NextGen is committed to working with lawmakers, advocates and everyday people to enact broad cancellation of student debt – $50,000 per borrower – and will continue that work until the president responds with an executive order providing relief to over 40 million borrowers.
“Millions of young Americans are drowning in debt and holding off on starting families, purchasing a home or business. This is a crisis that is crushing the dreams of millions of Americans, but it can be solved,” NextGen America President Cristina Tzintzún Ramirez said. “President Biden has the power to cancel $1.2 trillion of student debt and with the power of his pen he could give a huge boost to our economy and give millions of Americans the ability to start living their dreams. Student debt borrowers could start putting thousands of dollars into purchasing a home, starting a business or spending and growing the economy. Millions of Americans support canceling student debt because it makes good economic sense,” Tzintzún Ramirez said.”It ensures we build a strong economy by investing in our greatest asset: American young people.” “Canceling student debt will be a lifeline to millions of borrowers who are constrained by the weight of student debt,” said Remington A. Gregg, Counsel for Civil Justice and Consumer Rights at Public Citizen. “It will also benefit the economy and begin the hard work of closing the racial wealth gap. That’s why Public Citizen is in this fight, and why we’ll continue to advocate for President Biden to use his executive authority to cancel student debt.” “As America continues to face the economic and health crisis caused by the pandemic, we must demand that our political leaders meet the moment with bold solutions. President Biden has the legal authority to cancel student debt for millions of Americans — and he must use it — to respond to this unprecedented moment,” said Student Debt Crisis President and Founder Natalia Abrams. “Canceling student debt is the most powerful way to boost the recovering economy, support families struggling to get back on their feet, and address persistent racial equity issues. We are proud to stand with lawmakers, advocates, and everyday Americans in calling on the President to take this action now.”"Millions of students across the country are buried under trillions of dollars in student debt—and a disproportionate amount of that debt is held by communities of color and low wage workers. As tuition costs rise and wages stagnate, many Americans now face a lifetime of debt for pursuing a higher education,” said MoveOn executive director Rahna Epting. “The Biden administration did the right thing by extending the moratorium on debt repayments a few weeks ago—now, we join with Sens. Schumer and Warren, and Rep. Pressley, by calling on President Biden to take immediate and decisive action on debt cancellation."
Thursday’s town hall marks the culmination of several weeks of heightened student loan debt advocacy from NextGen, including gathering petition signatures, leading online information sessions and workshops and organizing social media organizing bootcamps.
NextGen has played a key role in advocating for student debt cancellation in recent years. In addition to making millions of calls and texts to young voters, NextGen has helped over 12,250 borrowers send letters to President Biden sharing their personal stories and emphasizing the need for debt cancellation.
The town hall will be livestreamed on YouTube at this link beginning at 5 p.m. ET on Thursday, Jan. 27.