FOR IMMEDIATE RELEASE
June 20, 2023
Contact: Alicia Mercedes, firstname.lastname@example.org
WASHINGTON – Today, the NAACP, along with The Center for Responsible Lending and Young Invincibles hosted a rally outside of the White House ahead of the impending SCOTUS decision on student loan debt relief. NAACP Director of Youth & College, Wisdom Cole was joined by fellow advocates, students, and youth leaders. The group rallied together in recognition of the Juneteenth Holiday, placing emphasis on the fact that Black America cannot truly experience freedom under the heavy burden of their trillion dollar debt.
"Right now, the financial fate of Black America lies in the hands of the Supreme Court. Our message to President Biden is clear - failure is not an option, and swift, decisive action is demanded," said Wisdom O. Cole, NAACP National Director of Youth & College. "Young Black borrowers are expecting this President to show up for them in the same way they have mobilized for him. Regardless of what the Supreme Court decides, we demand that the Biden Administration continue to explore all legal pathways necessary to make cancellation a reality. We will accept nothing less than a debt free 2023!"
Center for Responsible Lending (CRL)Director of Federal Campaigns, Jaylon Herbinsaid: "The Supreme Court must recognize the impact President Biden's student loan relief plan will have on the millions of borrowers struggling under the weight of our nation's $1.7 trillion student debt crisis. Substantial debt relief is crucial in providing Americans burdened with this crushing debt with an opportunity to focus on starting businesses and families, participating in the economy and taking part in wealth-building activities. Student loan cancellation is imperative in helping our society dismantle systemic racism and remove the barriers we have created for borrowers of color and low-income students."
Satra D. Taylor, Director of Higher Education and Workforce at Young Invincibles said:
"For too long, the student debt crisis has exacerbated racial and economic inequality. It is time we cancel student debt and give borrowers the forgiveness we need. Debt cancellation will make significant movement towards racial wealth inequality and will fully eliminate student loan debt for one-in-four Black borrowers.
Cancellation will provide relief, first and foremost, and create wealth in the long run, helping the middle class and closing the racial wealth gap. We cannot afford to give up on cancellation, no matter what the Supreme Court decides. By holding this rally outside the White House we are letting President Biden know that we expect him to fulfill his promise for debt cancellation and deliver for Black borrowers.
Student debt cancellation is legal and we must provide relief for over 40 million borrowers now."
For three years, the NAACP has led the national fight for student debt relief, promoting economic stability and upward mobility for Black borrowers. Today's rally came on the heels of the Association sending a letter to the Administration outlining their frustration with the outcome of the recent debt ceiling negotiations and demanding a clear path forward from the Administration.
Photos from today's rally can be accessed here. All assets should be attributed to Justin D. Knight/NAACP.
The NAACP advocates, agitates, and litigates for the civil rights due to Black America. Our legacy is built on the foundation of grassroots activism by the biggest civil rights pioneers of the 20th century and is sustained by 21st century activists. From classrooms and courtrooms to city halls and Congress, our network of members across the country works to secure the social and political power that will end race-based discrimination. That work is rooted in racial equity, civic engagement, and supportive policies and institutions for all marginalized people. We are committed to a world without racism where Black people enjoy equitable opportunities in thriving communities.
NOTE: The Legal Defense Fund – also referred to as the NAACP-LDF - was founded in 1940 as a part of the NAACP, but now operates as a completely separate entity.
About Center for Responsible Lending:
The Center for Responsible Lending is a non-partisan, nonprofit research and policy advocacy organization working to create financial fairness and economic opportunity for all, end predatory lending, and close the racial wealth gaps.
About Young Invincibles:
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 email@example.com