FOR IMMEDIATE RELEASE
May 17, 2024
Contact: Emma Bittner
(972) 510-3395 | Emma.Bittner@younginvincibles.org
As Public Comment Period Closes on President Biden’s “Plan B” Debt Relief Proposal, 22,000+ Borrowers and 200+ Advocacy Groups Voice Support for Bold, Fast, and Automatic Student Debt Cancellation
In Just 30 Days, Historic Level of Support Pours in From All Corners of the Country for President Biden’s First Set of Proposed Rules to Cancel Student Debt
(WASHINGTON, D.C.) — Today, 22,337 borrowers voiced their support for student debt cancellation in a comment submitted to the Federal Register in response to the 30-day public comment period for the Biden Administration’s Notice of Proposed Rulemaking (NPRM) to provide cancellation to 30 million Americans. The comment features thousands of borrower stories demonstrating the life-changing impact that President Biden’s new proposal would have on them.
Read the comment, which includes a cover letter that spotlights 15 borrower stories, and a petition signed by 22,337 borrowers and nearly 5,000 individual borrower testimonials, here.
Separately, a coalition led by Young Invincibles, Student Borrower Protection Center (SBPC), NAACP, and Student Debt Crisis Center (SDCC) submitted a comment on behalf of 228 national, state, and local civil rights, consumer advocacy, veterans, disability, and labor organizations.
Signers include AFT, NEA, SEIU, AFSCME, United Auto Workers, National Nurses United, Communications Workers of America, Minority Veterans of America, The Leadership Conference on Civil and Human Rights, UnidosUS, National Action Network, MomsRising, National Disability Institute, Center for Responsible Lending, and more.
This letter echoed support for the proposal and encouraged the U.S. Department of Education (ED) to implement it as swiftly and efficiently as possible and ensure it provides the maximum amount of relief to borrowers. The coalition comment calls on ED to move quickly to unveil its NPRM proposal to support borrowers experiencing hardship.
Read the coalition comment here.
Borrowers, advocates, and experts agree: ED’s final plan must address the need for automatic relief, relief for young borrowers, justice for borrowers who have experienced servicing failures, and the continued need to waive ballooning interest and underlying balances.
Visit a landing page containing all of the comments and stories here.
In response, Satra D. Taylor, Director of Higher Education and Workforce Policy and Advocacy at Young Invincibles said:
“Millions of borrowers have suffered for far too long. A historic number of borrowers, advocacy groups, and young adults expressed their support and need for urgent student debt relief during the public comment period for proposed rules to offer some relief to borrowers.
While recent and upcoming student debt cancellation plans attempt to relieve the burden for some borrowers, more is needed to address the crisis. The next and final plan from the Department of Education (ED) must consist of swift debt relief and address the hardships created and exacerbated by student debt, especially for young borrowers. Borrowers have shared how life-changing student debt relief would be for them, their families, and their futures. The Biden Administration and ED must heed this outpouring of support and act now.”
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Young Invincibles (YI) is a national advocacy and policy nonprofit organization focused on amplifying the voice of young people in the political process at the local, state, and federal levels. YI focuses on issues impacting young adults ages 18 to 34 in higher education, health care, economic security, and civic engagement. Our offices include Washington, D.C., California, Colorado, Illinois, New York, and Texas. For more information, please contact Emma Bittner at (972) 510-3395 or emma.bittner@younginvincibles.org
As Public Comment Period Closes on President Biden’s “Plan B” Debt Relief Proposal, 22,000+ Borrowers and 200+ Advocacy Groups Voice Support for Bold, Fast, and Automatic Student Debt Cancellation
FOR IMMEDIATE RELEASE
May 17, 2024
Contact: Emma Bittner
(972) 510-3395 | Emma.Bittner@younginvincibles.org
As Public Comment Period Closes on President Biden’s “Plan B” Debt Relief Proposal, 22,000+ Borrowers and 200+ Advocacy Groups Voice Support for Bold, Fast, and Automatic Student Debt Cancellation
In Just 30 Days, Historic Level of Support Pours in From All Corners of the Country for President Biden’s First Set of Proposed Rules to Cancel Student Debt
(WASHINGTON, D.C.) — Today, 22,337 borrowers voiced their support for student debt cancellation in a comment submitted to the Federal Register in response to the 30-day public comment period for the Biden Administration’s Notice of Proposed Rulemaking (NPRM) to provide cancellation to 30 million Americans. The comment features thousands of borrower stories demonstrating the life-changing impact that President Biden’s new proposal would have on them.
Read the comment, which includes a cover letter that spotlights 15 borrower stories, and a petition signed by 22,337 borrowers and nearly 5,000 individual borrower testimonials, here.
Separately, a coalition led by Young Invincibles, Student Borrower Protection Center (SBPC), NAACP, and Student Debt Crisis Center (SDCC) submitted a comment on behalf of 228 national, state, and local civil rights, consumer advocacy, veterans, disability, and labor organizations.
Signers include AFT, NEA, SEIU, AFSCME, United Auto Workers, National Nurses United, Communications Workers of America, Minority Veterans of America, The Leadership Conference on Civil and Human Rights, UnidosUS, National Action Network, MomsRising, National Disability Institute, Center for Responsible Lending, and more.
This letter echoed support for the proposal and encouraged the U.S. Department of Education (ED) to implement it as swiftly and efficiently as possible and ensure it provides the maximum amount of relief to borrowers. The coalition comment calls on ED to move quickly to unveil its NPRM proposal to support borrowers experiencing hardship.
Read the coalition comment here.
Borrowers, advocates, and experts agree: ED’s final plan must address the need for automatic relief, relief for young borrowers, justice for borrowers who have experienced servicing failures, and the continued need to waive ballooning interest and underlying balances.
Visit a landing page containing all of the comments and stories here.
In response, Satra D. Taylor, Director of Higher Education and Workforce Policy and Advocacy at Young Invincibles said:
###
Young Invincibles (YI) is a national advocacy and policy nonprofit organization focused on amplifying the voice of young people in the political process at the local, state, and federal levels. YI focuses on issues impacting young adults ages 18 to 34 in higher education, health care, economic security, and civic engagement. Our offices include Washington, D.C., California, Colorado, Illinois, New York, and Texas. For more information, please contact Emma Bittner at (972) 510-3395 or emma.bittner@younginvincibles.org