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Young Invincibles Launches “Student Debt in Texas” Report
(Houston, TX) – This morning, Young Invincibles unveiled its new report, Student Debt in Texas: Why It’s Time to Collect on the Best Interests of Texas Borrowers, as a new Texas Legislative session begins. YI’s video launch highlighted the report’s research findings, policy recommendations, and student experiences on navigating the repayment system, student loan debt cancellation, consumer protections, and state investment in higher education.
In response, Aurora Harris, Southern Region Director for Young Invincibles, issued the following statement:
“Amidst a global pandemic and economic crisis, young Texans are navigating unprecedented college costs and student loan debt. Our findings show what we’ve known- student debt is directly impacting the future of young Texans, and the pandemic is exacerbating these impacts even more.
The start of a new legislative session, an incoming Biden Administration, and the ongoing economic impact of COVID-19 represents an opportunity for a new direction. We believe our findings are a call to action. Texas must address the student debt and COVID-19 crises with equitable policies that center borrowers of color, unemployed borrowers, and first-generation college students in state actions addressing student debt prevention, protections, and relief.”
The report’s policy recommendations include:
- Enacting broad-based federal student loan forgiveness, and exploring state-level debt forgiveness programs.
- Centering students and borrowers of color in pandemic recovery, including passing Medicaid expansion.
- Increasing equity-driven state investment in Texas higher education.
- Creating a Student Borrower Bill of Rights with consumer protections, such as a student loan ombudsman, servicer registration or licensing, and for-profit college accountability.