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The NAACP announces a new campaign calling for Student Debt Cancellation. The campaign, entitled, "#MeMinusStudentDebt," addresses the fact that across all racial groups, Black borrowers hold the most student loan debt despite also being consistently underserved by postsecondary institutions.
"We're calling on our elected officials to cancel federal student loan debt to help eradicate the disproportionate impact on Black borrowers and their families," said Wisdom Cole, Interim Youth and College Director. "The economic burden on millions across this country will have detrimental consequences for our economy as a whole."
The campaign will draw awareness to the key goals in policy advancement, the first being cancellation of $50,000 in debt per person. Canceling $50,000 in student debt would provide Black borrowers with opportunities to pursue homeownership, develop economy-boosting discretionary income, fuel upward mobility in the Black community, and equitable efforts to close the racial wealth gap.
Throughout the campaign, the NAACP will activate its network across the country to lobby and advocate on the issues surrounding student debt cancellation. To learn more about the #MeMinusStudentDebt campaign, visit NAACP.org.