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Wisdom Cole - Holding Cancel Student Debt Sign
Press Statement March 24, 2023

NAACP Joins Student Debt Cancellation Advocates at the Department of Education Student Loan Policies Hearing

Wisdom Cole - Holding Cancel Student Debt Sign

Education is supposed to be the key to financial freedom, not the barrier. This week, myself and a delegation of student loan borrowers from Howard University united with student debt cancellation advocates to support the fight against attempts to restrict those very freedoms.

Senator Cassidy announced his effort to overturn President Biden's plan and end the current student loan payment pause. I want to make one thing clear — student debt relief benefits everyone and would provide downstream economic relief for millions of people. Education is needed to advance the US economy and has always been considered an economic driver of the economy. The costs of a college education have risen disproportionate to salaries and incomes. Capitalization of interest has bound too many in debt far beyond the cost of the student loan.

The NAACP will continue to do everything in our power to ensure the economic mobility of the 40+ million Americans depending on the survival of this Student Debt Cancellation program. We will ensure the voices and stories of borrowers are heard. Many efforts to destabilize this fight through discriminatory narratives will rise, but know that our advocacy will rise higher.

Wisdom Cole

National Director, Youth & College