NAACP Urges Congress to Protect Student Debt Cancellation Plan - Not Abandon
FOR IMMEDIATE RELEASE
May 24, 2023
Contact: Chyna Fields, cfields@naacpnet.org
WASHINGTON — Today, the House of Representatives voted to overturn President Biden's student debt cancellation plan, jeopardizing the economic future of over 40 million borrowers across the country. NAACP National Director of Youth & College Wisdom Cole released the following statement, decrying today's vote and calling on the Senate to reject the resolution and protect all options for student loan relief, including President Biden's current plan under review by the Supreme Court:
"So-called leaders in Congress are on a dangerous mission to eliminate the potential for life-changing student debt relief instead of supporting borrowers who need it most. This resolution would have catastrophic consequences for Black borrowers, who take on more student debt on average and have delayed important wealth-building opportunities such as homeownership to make payments. This is a clear attack on us that we will not forget. Rather than intentionally creating more barriers for borrowers, Congress should focus their efforts on exploring alternative pathways to student debt cancellation and extending the student loan repayment pause. The Senate must reject this resolution and give Black borrowers the opportunity to thrive."
Earlier this month, the NAACP, alongside 260 other advocacy partners, sent a letter to Congress in strong opposition of efforts to use the Congressional Review Act (CRA) to overturn President Biden's student debt cancellation plan. The letter highlights how the payment pause provided significant relief to student loan borrowers who were in financial distress even before the pandemic and provided more much-needed support for those borrowers than other coronavirus assistance programs.
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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.