Student Debt
Crisis Center
 

Susan, Kansas “I am a senior citizen. My payment was due on 8/2/2024. Due to the SAVE program, it was cut in half of what it had been. That has provided much relief financially and mentally. However, if my payments go back up again, I will be under a tremendous amount of stress once again. I have a fear that I will die with this debt. While I will never regret getting my education, I wish I had known more about student loans. In order for me to get both my degrees, I had to use student loans as tuition was being raised significantly every year, then every semester. I have the fear I will not be able to retire and need to work for the remainder of my life.” Kathleen, Alaska “I first took on Federal loans to begin my career in mental health counseling. It took me several years but I graduated in 2019 with my graduate degree. I have always worked for an agency that qualifies for PSLF. I’m a veteran also. It has been very challenging with the economy and cost of living to have a substantial loan payment. The IDR SAVE plan helped to make my payments affordable. Without them, I may not be able to afford my mortgage or other necessities. I’m concerned that the payments I have made have not fully been applied towards my PSLF. And with interest continually accruing, I am worried I could be in a position of not being able to afford my loan payments and having my financial situation be in serious risk.” Tamara, Iowa “I am not able to make enough income to afford my student loan payments, which are nearly $1000 a month. I feel completely defeated and hopeless.” Heather, Nebraska “I was so grateful to have the (small) remainder of my student loans forgiven. I had paid into them for more than 15 years and had passed paying off the original amount of the loan. I was able to apply to the PSLF when the rules were temporarily changed to accept all payments as I wasn't able to do the income repayment for much of my repayment history. It allowed me to stop renting out my basement and brought me a ton of financial stability as a single parent. I don't begrudge my student loans, they got me where I am now, but the interest rate over time is crazy. How are we expecting teenagers to make these sorts of decisions that will impact their futures when they have no clue what that actually looks like? It's crazy.” Joseph, Oklahoma “I have been mostly unable to have good credit because of student loan debt. I have paid lots of money towards student loans only to see no reduction in the principle amount but rather an increase. My life has been put on hold and any long term plans for the future have been put on hold because I can’t afford to do things like buy a house or start a family because student loans are never going away. And repayment seems futile.” Sharryn, Oklahoma “My loans felt like another mortgage on my credit. The SAVE and RePAYE programs helped me to be able to afford my payments, but it was insane to me that my budget never lowered. Now that they were forgiven, my credit score has improved drastically and I was able to buy a newer car to get myself back and forth to work. I can afford to give my kids experiences that I only dreamed of at their ages.” Diana, Texas “Student loans are an absolute nightmare. We are supposed to be the leaders of global economics, education, politics, and beyond yet we failed to even provide our own citizens with adequate schooling and funding. The recent debacle with the SAVE Plan is absolutely heartbreaking as it was finally a way to consolidate my loans and release me from the burden of the never-ending compounding interest. Our Educational system has become beyond predatory and something needs to change. There are not enough options for student debt, cancellation, consolidation, decreasing interest rates, and beyond. Having this debt hanging over my head is really heavy, I just wanted to go to school and get an education and integrative medicine so I could help people heal and now I will spend the next many years hoping I can eventually pay off these loans. It has impacted my confidence, my ability to buy a home, and my ability to live in the essence of American freedom.” For more information or to schedule an interview, please contact Natalia Abrams at natalia@studentdebtcrisis.org . ### ABOUT Student Debt Crisis Center Student Debt Crisis Center is a national advocacy organization with over 2,000,000 supporters calling for fundamental reforms to student loan policies and an end to the student debt crisis. Learn more here.

FOR IMMEDIATE RELEASE October 17, 2024 Natalia Abrams, Student Debt Crisis Center natalia@studentdebtcrisis.org The Student Debt Crisis Center (SDCC) celebrates the historic progress in student debt cancellation for over one million public service workers, a significant achievement made possible by the Biden-Harris Administration. This milestone highlights the dedication and hard work of advocates who have tirelessly fought for equitable access to education and relief from overwhelming student debt. “The recent announcement of $4.7 billion in student debt cancellation is a monumental step forward for public service workers who have long awaited the relief they were promised. Over one million individuals are finally receiving the support they deserve after dedicating their careers to serving our communities. However, we need to continue fighting for those still stuck on the SAVE forbearance and for everyone else striving to achieve PSLF forgiveness. This progress reminds us that we must continue to advocate for equitable access to education for all.” — Natalia Abrams, President, SDCC “Today’s news is a powerful reminder that higher education should lead to opportunity, not debt. The Biden-Harris Administration has made historic strides in canceling student debt, lifting the burden for thousands of public service workers. We are witnessing the impact of this change in real lives—more money in the pockets of those who dedicate themselves to helping others. Our work is far from done. Together, we will keep championing the cause for accessible and affordable education and financial relief for all.” — Sabrina Calazans, Managing Director, SDCC By standing united, the SDCC believes that advocates should continue to push for reforms that make higher education a true pathway to opportunity for all, ensuring that no one is left behind in the pursuit of financial freedom and stability. Together, we are committed to creating a future where education serves as a bridge to success rather than a burden of debt. For more information or to schedule an interview, please contact Natalia Abrams at natalia@studentdebtcrisis.org . ### ABOUT Student Debt Crisis Center Student Debt Crisis Center is a national advocacy organization with over 2,000,000 supporters calling for fundamental reforms to student loan policies and an end to the student debt crisis. Learn more here.

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FOR IMMEDIATE RELEASE October 9, 2024 Natalia Abrams, Student Debt Crisis Center natalia@studentdebtcrisis.org Washington, DC  — As of October 2024, the restart of student loan payments has left millions of student loan borrowers grappling with financial uncertainty.   A new report from the Student Debt Crisis Center (SDCC) highlights significant challenges faced by borrowers, revealing alarming statistics that underscore the need for improved communication and support from student loan servicers. The report, A System in Disarray , follows a survey of 11,756 individuals detailing their experience with repayment since payments restarted in October 2023. Key survey findings include: Public Perception:  60% of borrowers believe the Biden Administration is pursuing legal pathways to debt cancellation; this is compared to 48% of borrowers last year. Consolidation Efforts : Nearly half (46%) of borrowers have consolidated their loans to qualify for an Income-Driven Repayment (IDR) plan. Lack of Awareness : A striking 60% of borrowers with defaulted loans are unaware of the now-expired Fresh Start initiative, a temporary program designed to bring defaulted loans back into good standing. Unresponsive Servicers : Over half (55%) of borrowers who reached out to their loan servicers received no response, adding to their frustration and confusion. Trust Issues : More than three-quarters (75%) of borrowers feel they cannot rely on their loan servicers for accurate information, highlighting a critical gap in communication and support. Despite the efforts made by borrowers to navigate their student loan obligations, many are feeling overwhelmed and unsupported as all pandemic relief measures have come to an end. The survey underscores a systemic issue where essential information and assistance are not reaching those who need it most. “Borrowers have done everything they can to prepare for repayment, yet the lack of reliable communication from servicers leaves them in a challenging position,” said Natalia Abrams, President and Founder of the Student Debt Crisis Center . “As payments restart, it’s crucial that we improve communication and support, empowering borrowers to navigate this daunting landscape and make informed decisions about their financial futures.” Sabrina Calazans, Managing Director of SDCC, added, “These statistics are a wake-up call. Borrowers deserve access to reliable information and support, especially as they navigate the complexities of repayment. We must do better to help the millions of Americans saddled with student debt.” The findings reflect a broader concern that, as borrowers attempt to restart payments, they are met with uncertainty and inadequate support. This situation is compounded by high costs of living, medical bills, and basic goods, making financial stability increasingly elusive. The report calls for immediate action from policymakers, institutions, and loan servicers to ensure that borrowers receive accurate information, accessible resources, and the relief they are entitled to. Servicer accountability and transparency are critical to restoring trust and support in the student loan system. As the landscape of student loans continues to evolve, SDCC urges all stakeholders to prioritize borrowers, including their education and advocacy. We must work together to help millions regain their financial stability and confidence. For more information, to schedule an interview, or to request additional data, please contact Natalia Abrams at natalia@studentdebtcrisis.org . To read the survey report and find quotes from borrowers, click here . ### ABOUT Student Debt Crisis Center Student Debt Crisis Center is a national advocacy organization with over 2,000,000 supporters calling for fundamental reforms to student loan policies and an end to the student debt crisis. Learn more here.

FOR IMMEDIATE RELEASE June 25th, 2024 Natalia Abrams, Student Debt Crisis Center natalia@studentdebtcrisis.org (646) 820-8037 SDCC Calls on the Administration to Pause Payments Amid Chaos Caused by Halting of the SAVE Plan June 25, 2024 | WASHINGTON, D.C. — Yesterday, federal judges in Kansas and Missouri issued injunctions that block key parts of the new Saving on a Valuable Education (SAVE) repayment plan. This plan, available since August 2023, has already reduced monthly payments for millions and completely canceled the debts of hundreds of thousands of borrowers. In Kansas, a federal judge issued a preliminary injunction halting the U.S. Department of Education’s ability to cut student loan payments in half for millions of borrowers starting July 1st. Similarly, in Missouri, another judge issued an injunction stopping the Department from canceling debts under the new plan. These decisions leave millions of borrowers uncertain about their financial future as the student loan system attempts to restart after a three and a half-year pause on payments, interest, and debt collection that ended in September. “Federal judges in Kansas and Missouri have created major obstacles within the student loan system, leaving millions of borrowers in a state of confusion,” said Natalia Abrams, President & Founder of SDCC. “Secretary Cardona and the Biden Administration must take immediate and certain action to protect borrowers by pausing payments immediately. Once again, borrowers are left with uncertainty with absurd monthly payments, continuously changing rules and deadlines which creates an overall fear of what the courts will do next. To be blunt, this creates utter chaos in the student loan system and it must be halted with payments paused for borrowers until SAVE is fully restored.” “From constantly shifting deadlines to continued servicer mismanagement to programs being struck down by unelected judges, borrowers already struggle to navigate a complicated and always-changing federal student loan landscape,” said Spencer Dixon, Senior Policy Advisor with SDCC. “Yesterday, radical states attorneys general succeeded in adding further chaos and confusion to the mix by halting major tenants of the Biden-Harris Administration's SAVE plan. Millions of borrowers made the decision to enroll in the plan based on the full benefits it was to provide. With those benefits now in question, the Administration must pause payments until they are reinstated.” Since payments resumed last October, families have had to restructure their lives around student loan payments resuming, adding more financial strain to the inflation that they’re already experiencing on a daily basis. SDCC has previously conducted extensive research on the impact of the student debt crisis on everyday Americans, and holds firm to its mission to cancel student debt and end this crisis once and for all. From housing costs to medical care to groceries, borrowers have been increasingly unable to afford basic needs for decades due to high student loan payments and unforgiving repayment plans. The SAVE Plan was intended to be a lifeline for millions of borrowers. Until the SAVE Plan is fully restored, student loan payments must be paused. Current SAVE Plan Impact: “Originally, my student debt greatly impacted my family budget. I could not pay the exuberant payments. When my husband's income was included, the payments were more than my mortgage. Now with the SAVE program and the end of spousal income, my payments are so much more manageable and it doesn't affect our budget. I can totally fit it in.” – Crista, Arizona (March 2024) “I was able to join the SAVE program. This program decreased my payments from $630 to $98 per month. It created affordable payments now that I’m retired. I’m still concerned about the future and I hope that nothing drastic happens.” – Guillermo, Nevada (March 2024) Further Information: - Order in Missouri (Missouri et. al. v. Biden) - Order in Kansas (Alaska et. al. v the U.S. Department of Education) ### Student Debt Crisis Center is a nationwide advocacy group with over 2,000,000 supporters calling for fundamental reforms to student loan policies.

FOR IMMEDIATE RELEASE March 5, 2024 Natalia Abrams, Student Debt Crisis Center natalia@studentdebtcrisis.org (310) 365-1069 Student Debt Crisis Center releases: Six Months Into Repayment, SDCC Reveals Realities of Return to Repayment Survey Report. The new survey collected almost 17,000 borrower responses over the course of 30 days, where they overwhelmingly shared their experiences on repayment, new programs, and more. The Student Debt Crisis Center (SDCC) has conducted a survey shedding light on the realities of student loan repayment after the end of the COVID-19 payment pause that halted federal loan repayments for student loan borrowers for more than three years. The survey, which garnered responses from almost 17,000 borrowers, offers a comprehensive understanding of borrowers' experiences, attitudes, and perceptions toward federal loan repayment, new programs, and government initiatives aimed at alleviating student debt. With significant policy changes, reforms, and announcements having reshaped the landscape of student debt for millions of borrowers, the survey found that there is a divide between borrowers who feel the Biden Administration is working to help cancel borrowers’ debts and lower payments and those who feel it is not doing enough. This split is found among older borrowers who mainly fall into the former group while a significant portion of younger borrowers feel the administration's actions fall short. This discrepancy underscores that actions taken are not being championed enough by President Biden, potentially resulting in a missed opportunity for relief for some borrowers. Specific information from the survey includes; Less than half of borrowers (48%) believe (correctly) the Biden administration is pursuing other legal pathways to achieve student debt cancellation. Only 1 in 4 borrowers is confident the information their student loan servicer provides is complete and accurate. About 3 in 4 borrowers who make $75,000 or less annually and would benefit from the SAVE plan are not currently enrolled in the plan. More than 1 in 3 borrowers (38%) will be unable to make their monthly student loan payment six months from now. As millions of Americans still grapple with the weight of student loans, these survey results show an urgent need for clear and comprehensive communication from the Biden Administration regarding their current and future plans for alleviating this financial strain. During the upcoming State of the Union Address on March 7th, the Biden Administration plans to provide further insight into the Administration's strategies and timelines for implementing effective relief measures allowing easier access to these resources for borrowers and their families. “These survey results are a reflection of what borrowers have experienced these past 6 months since repayment restarted. We have come so far in advocating for necessary relief to millions of borrowers, and seeing the Biden Administration act is great,” said SDCC President and Founder Natalia Abrams. “However, communication of these vital resources is crucial so borrowers know help is available for them right now. If borrowers do not know the available resources, they will miss relief that can lower their monthly payments, cancel their debt entirely, and so much more.” “I regularly hear from borrowers that they are experiencing inaccurate information or none at all from their loan servicers. As a student loan borrower myself, I know firsthand how frustrating and harmful these communication errors can be. Borrowers need more communications coming directly from the Department of Education, given their lack of trust in their respective service providers,” said Sabrina Calazans, Managing Director of SDCC. “The Department of Education and student loan servicers must prioritize borrowers’ needs and ensure that they have accurate, timely, and consistent communications. Information on new programs, benefits, and cancellation updates must reach as many individuals as possible.” With lingering concerns regarding miscommunication, mismanagement, and lack of transparency, survey results show a level of skepticism between borrowers and loan servicers is still present. Only a quarter of surveyed borrowers believe the information from loan servicers is trustworthy, expressing skepticism towards the information provided by these entities. We must prioritize increasing the accountability of loan servicers to regain borrower trust in their respective loan servicer. For too long, student loan servicers have been able to get away with billing errors, wrong information, and overall negligent behavior. SDCC urges both the Biden Administration and Congress to take decisive action in this regard. At SDCC, we will continue to fight on behalf of borrowers to ensure that they receive the relief that they need and that loan servicers are held accountable for their negligence and errors. As an organization, we are dedicated to ending the student debt crisis and will always do our best to make sure borrowers’ voices are heard loud and clear. You can find the survey report linked here. If you would like to speak with someone from our team or with a borrower, please reach out to us via email at info@studentdebtcrisis.org. ### Student Debt Crisis Center is a nationwide advocacy group with over 2,000,000 supporters calling for fundamental reforms to student loan policies.

FOR IMMEDIATE RELEASE February 21, 2024 Contact: Natalia Abrams (SDCC) natalia@studentdebtcrisis.org (310) 365-1069 STATEMENT: The Student Debt Crisis Center Applauds Biden Administration’s Student Debt Cancellation for Low-Balance Borrowers Under The SAVE Plan (Washington D.C.) – The Student Debt Crisis Center (SDCC) applauds today’s announcement of expedited cancellation by the Biden Administration and Education Department for thousands of low-balance borrowers under the SAVE plan. With thousands of borrowers receiving letters today confirming their debt will be canceled, it is a reminder of the hard work and dedication of advocates, policymakers, and elected officials to this movement and to see millions of Americans receive relief. Borrowers receiving debt cancellation will have more money in their pockets to invest in their households, save for their future, buy homes, raise families, and more. As a founding partner of the SAVE on Student Debt Campaign, SDCC welcomes the news of expedited cancellation starting to roll out for these low-balance borrowers. "Today’s announcement represents how important the issue of student debt is for millions of Americans. This news will put money back into the pockets of everyday people and highlights the work that policymakers, advocates, and others are doing to make this relief possible today,” said Natalia Abrams, President of the Student Debt Crisis Center. “Low-balance borrowers are finally getting the relief they deserve. Student debt cancellation results in freedom from a financial burden that has weighed thousands of borrowers down. This is more proof that student debt cancellation is the path forward to achieve an affordable higher education system in this country again." This achievement represents the efforts of so many that should be celebrated and serve as a reminder of why the fight for widespread student debt cancellation must continue. These victories are signs we are on the right path and that student debt cancellation is at the forefront of issues Americans care most about. While today millions of dollars of debt will be canceled for thousands of borrowers, there are still millions more in need of and waiting to receive relief. At SDCC, we promise to continue fighting for an end to this crisis but we are nonetheless optimistic about the future. ### Student Debt Crisis Center (SDCC) is a non-profit organization ​​centering the needs and voices of borrowers and partnering with allies to impact public policy and end the student debt crisis. The center works directly with borrowers to help them navigate the bewildering and frustrating loan repayment system and advocates for lasting and meaningful change. It leads a people-powered movement representing over 2 million supporters. Learn more at www.studentdebtcrisis.org and follow SDCC on Twitter at @DebtCrisisOrg.

FOR IMMEDIATE RELEASE September 29, 2023 Contact: Sabrina Calazans (SDCC) sabrina@studentdebtcrisis.org STATEMENT: Student Debt Crisis Center Urges Biden Administration to Enact New Payment Pause on Federal Student Loans with a Government Shutdown Looming (Washington D.C.) – As the U.S. Government heads towards a shutdown, we are extremely concerned about this day coinciding with student loan payments resuming. This will cause drastic consequences for more than 43 million student loan borrowers nationwide. The Student Debt Crisis Center (SDCC) urges the Biden Administration to enact a new payment pause on federal student loans. The Department of Education is scrambling to prepare for federal loan payments to turn on and to support borrowers with limited staffing and resources. Leaving borrowers to rely on their loan servicers for information and guidance is a known recipe for disaster. October 2023 will mark the first time in more than 3 years since most borrowers made monthly payments and many will be making their first payment [ever]. The Department of Education is not prepared to support new or existing borrowers. With less than 36 hours until the government officially shuts down, Congress is not any closer to reaching a deal. The deals that have been presented include major cuts to the Department of Education’s budget. These cuts will gravely harm borrowers and leave them in the current scenario indefinitely; lacking support, servicer accountability, and a trustworthy source of information. Over 32,500 borrowers have signed our petition calling for Congress to not cut the Department of Education funding. A government shutdown on the same day as more than 43 million student loan borrowers have their payments turned on is truly a worst-case scenario. We strongly encourage the Biden Administration to enact a new pause of federal student loans should the government shut down. We are committed to supporting borrowers and uplifting their stories to bring meaningful change, but borrowers deserve and need support, now more than ever. ### Student Debt Crisis Center (SDCC) is a non-profit organization ​​centering the needs and voices of borrowers and partnering with allies to impact public policy and end the student debt crisis. The center works directly with borrowers to help them navigate the bewildering and frustrating loan repayment system and advocates for lasting and meaningful change. It leads a people-powered movement representing over 2 million supporters. Learn more at www.studentdebtcrisis.org and follow SDCC on Twitter at @DebtCrisisOrg.

December 6, 2023 Natalia Abrams, Student Debt Crisis Center natalia@studentdebtcrisis.org (310) 365-1069 The State of Student Debt Virtual Summit Thursday, December 7th | 11:30 AM-1:00 PM ET **Open to Press** Register for the Event. Secretary of Education Miguel Cardona and Senator Elizabeth Warren will join the Student Debt Crisis Center to discuss and update borrowers, advocates, and allies alike on the ongoing fight to cancel student debt, reigning in servicer errors, and more. The Student Debt Crisis Center (SDCC) is hosting the virtual 2023 State of Student Debt Summit to bring vital information to people impacted by the student debt crisis. Having heard from countless borrowers about the chaos and uncertainty that came along with payments resuming, the SDCC Team has been hard at work with allies and policymakers to demand more for borrowers. So with the past two months alone having seen said payments resume, President Biden’s latest student debt cancellation efforts progressing through the negotiated rulemaking process, and millions of more student debt dollars being canceled, it is crucial for borrowers and their friends and families to stay up-to-date. Not least to mention the upcoming Income-Driven Repayment adjustment deadline on December 31st approaching borrowers soon. “Borrowers have faced difficult and unique challenges these past few months in light of the end of the payment pause and a disastrous decision by the Supreme Court. To help ease these hurdles, advocates have sought to both continue their fight towards ending the student debt crisis and be a resource of vital information when it comes to repayment plans, debt cancellation opportunities, and more,” said SDCC President and Founder Natalia Abrams. “We hope this year’s State of Student Debt Summit serves as a crucial opportunity for many borrowers, advocates, and policymakers to use in knowing what is actually going on in the student debt crisis, how we can collectively address it, and make sure every single borrower knows what assistance is available for them.” “The Student Debt Crisis Center has helped reshape the entire debate around college debt and affordability in this country. You are the reason we’ve worked from Day One to fix the nation’s broken student loan system,” said US Secretary of Education Miguel Cardona. “The fight for progress is hard. But these past few years, we’ve learned that change is possible and we need you to continue in the fight for college affordability.” “Thank you to the Student Debt Crisis Center for hosting this summit and for all the work you do to alleviate the burden of student debt for millions of Americans,” said Senator Elizabeth Warren. “I remain committed to working shoulder to shoulder with you to hold servicers accountable for their errors, ensure borrowers are protected, and cancel as much student debt as quickly as possible to lock in brighter futures for millions of hardworking Americans.” Register for the Event here. ### Student Debt Crisis Center is a nationwide advocacy group with over 2,000,000 supporters calling for fundamental reforms to student loan policies.

FOR IMMEDIATE RELEASE October 18, 2023 Natalia Abrams, natalia@studentdebtcrisis.org SDCC Survey Shows Almost Half of Student Loan Borrowers State They Do Not Have the Information They Need to Prepare for Payments to Resume. Student Debt Crisis Center’s recent survey action garnered over 17,000 responses, in which borrowers overwhelmingly shared their concerns about payments resuming. Although the SCOTUS ruling struck down the cancellation millions were expecting, borrowers have been doing what they can to prepare for student loan payments to resume. In spite of their preparedness, borrowers that participated in our survey stated they need more information from their loan servicers to be prepared for the resumption of payments. SDCC surveyed over 17,500 supporters and found that borrowers not only feel loan servicer communication is lacking, but that they are untrustworthy. Only 20% of respondents feel they have the information they need to prepare for the resumption of payments, coupled with the fact that over a quarter (27.5%) of respondents have not received any recent communication from their loan servicer, leaving borrowers scrambling to find information on their own. To add to the grave lack of proactive communication, only 26% of respondents who have contacted their loan servicer within the lost two months have reported that they were able to get their questions answered or their issue resolved. Borrowers have made it clear that they have done everything they can to prepare for payments to resume, but the lack of communication from the Department of Education and their loan servicers has created unnecessary obstacles. “These survey results are coming at an inflection point for the future of student debt for millions of borrowers with the negotiated rulemaking process beginning last week. Borrowers do not trust their servicers and are relying on the Department of Education and nonprofit organizations like us [SDCC] to help them navigate the complexities of repayment,” said Natalia Abrams, President of the Student Debt Crisis Center. We will continue advocating for broad-based student debt cancellation because it’s what borrowers not only deserve, but desperately need.” “As a borrower, I still find myself confused at times, and I’m doing this work everyday. I know firsthand that the information borrowers receive from their loan servicers is sporadic at best and not always wholly accurate,” said Sabrina Calazans, Managing Director of the Student Debt Crisis Center. “We hear from borrowers daily who are struggling to not only navigate the system, but to even know where to start.” Approximately half of respondents said they have already reduced their discretionary spending to prepare for payments and yet, they will still struggle to make their payments over the next six months. Thousands of borrowers courageously shared how harmful having another bill to pay will be. As we continue working to educate and inform borrowers, our focus on prioritizing borrower voices and dedication to sustaining the grassroots movement for canceling student debt remains unwavering. If you would like to learn more about these survey results, to speak with an expert, or to speak with a borrower directly, please contact info@studentdebtcrisis.org.

FOR IMMEDIATE RELEASE: Contact: Natalia Abrams | (310) 365-1069 | natalia@studentdebtcrisis.org Cody Hounanian | (661) 877-1813 | cody@studentdebtcrisis.org The Student Debt Crisis Center Designs a Line of College Sweatshirts That Raises Awareness of the Real Cost of School Spirit. The Major Debt Collection features a range of customizable varsity sweatshirts that will bring focus to the 45 million people with student loans. LOS ANGELES, CA, DEC 13, 2022: Americans across the country owe more than $1.7 trillion in student loans, a number that continues to grow each day as bills are stalled in house. To contextualize the crushing cost of tuition for higher education, the Student Debt Crisis Center turned the most recognizable symbol of college into a wearable price tag. “Major Debt is a unique story-sharing project designed to provoke a meaningful discussion about student debt cancellation. It is our hope that the imagery both highlights the outrageous cost of higher education and empowers students, borrowers and parents to engage with their communities to create solutions that end the student debt crisis once and for all,” said Natalia Abrams, President of the Student Debt Crisis Center. “We believe that student debt is a systemic policy failure, not a personal failure. That is why we call on allies across the country to wear their debt, literally, in a bold statement about America’s broken higher education system.” Current and former students can wear their debt to raise awareness and put pressure on the government to take greater action in canceling student loans. The first release of sweatshirts have been distributed amongst public figures advocating for student debt. Anyone can sign-up at studentdebtcrisis.org/majordebt to receive news of the first drop and get in line to proudly support the notion that education is a right, not a life sentence to borrowers. The line is customizable to your school colors and your debt, reflecting that all schools – public and private, all across the country – are home to major student debt. About the Student Debt Crisis Center: The Student Debt Crisis Center is a 501(c)(3) nonprofit organization committed to addressing the ever-worsening problem of student loan debt. The organization fights hard on two fronts: one, working directly with borrowers to help them navigate the bewildering and frustrating loan repayment system – and two, advocating for lasting and meaningful change through advocacy work and the lobbying of national and state legislators. Creative Credits This campaign was created and executed in partnership with the advertising agency No Fixed Address Inc. and photographer Bradley Golding (@bradleygolding).