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Wisdom at Student Debt Rally

$50K & Beyond

#MeMinusStudentDebt
Countdown to Election Day —

Student Debt Relief is Legal

16 million borrowers who applied for President Biden's cancellation program were told that relief was on the way, but now, the situation is still the same.

The Department of Education data shows returning to repayment without cancellation will be even worse. Students want the opportunity to pursue higher education, but we have to make it accessible and equitable first. 

The NAACP is committed to supporting borrowers as we continue to work towards full cancellation. We're working with the Department of Education to educate our communities on the cancellation options available to them through the SAVE program - but that's not enough. Find resources, statistics, and stories below.

Pathways to Access PSLF and Other Forms of Student Loan Debt Relief

Derrick Lewis - NAACP - Cancel Student Debt

The Ongoing Need for Student Debt Relief

We must hold those elected to their promises regarding the cancellation of student loan debt. This includes President Biden's Student Loan Debt Relief Plan which would forgive up to $10,000 in student loan debt or $20,000 for those who received a Pell grant. Until then, we're providing updated information on the Supreme Court decision and encouraging Black borrowers to contact their student loan servicer to obtain the most accurate information on their loans and determine if they are eligible for any of the currently established loan forgiveness programs.

Wisdom Cole - Cancel Student Debt - NAACP

Education should be the key to financial freedom, not the barrier. Now more than ever, it is crucial that we continue the work necessary to ensure equitable access to education.

- Wisdom Cole, National Director of the Youth and College Division

ADVOCATE TO CANCEL STUDENT DEBT

Urge President Biden to Take Action and Cancel Student Debt to Close the Wealth Gap

There is no plan to close racial wealth gaps that does not include addressing the #StudentDebtCrisis. Student debt relief is a much-needed policy solution in the midst of this economic crisis.

Data suggest that cancellation policies beyond $50,000 would benefit all demographics, eliminate racial disparities in student debt, and boost our struggling economy. This will:

  • 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

Join other student borrowers and supporters calling for President Biden to take executive action to cancel federal student loans at a minimum of $50,000 without barriers or means-testing.

In the News

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Your Story Matters

View the stories on how student debt has impacted the lives of student loan borrowers to understand the impact student debt has on individuals and the Black community as a whole.

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Share your student debt story

Why did you go after a college degree? How has student debt impacted your life? What would the cancellation of student debt mean to you?

Student debt impacts real people and has daily consequences. Add your story to the growing collection of reasons elected officials need to act to cancel student debt.

Share My Story

student loan debt protest

Sound Off: Student Loan Debt Stories

Young Black Female Outdoors - Solo - Smiling

Tasha A., Student Loan Borrower

"The student loan debt has made it impossible for me to help my oldest pay for college without having to borrow additional plus parent student loan debt. It prevents me from saving money, saving for my retirement, and the thought of having to pay student loan debt until the day I die stresses me and causes undue anxiety. "

Young Black Man Helping A Female at a Computer - Classroom Setting

Jesse P, Student Debt Organizer

"Student debt is stressful. I had student debt during school as well. It's holding me back from my financial goals."

Black Female - Solo - in house - Serious

Mahogany B., Student Loan Borrower

"I am currently homeless; my debt to ratio due to my student loan is to high to receive an affordable loan to purchase a home yet I do not qualify for affordable housing. One of my paychecks every two weeks does not even cover the average cost of living in California."

Storytelling Tips

Collecting your stories helps us humanize the issue of student debt relief because it's not just about the policy. It's about the people who will be impacted. There are many ways to share your story. No matter how you choose to share, be authentic, be brief, and help others understand the impact student debt has on individuals and the Black community as a whole.

Extra Credit and Financial Education

Purple Scribble
Happy Black Family in front of house

Driving Quality of Life through Data

NAACP and Brookings have partnered on The Black Progress Indexa new analysis of the places where Black people are thriving most, as measured through their life expectancy. In the spirit of W.E.B. Du Bois, we're working to provide insight into the local civic actions that can improve life expectancy outcomes.

NAACP Youth & College Division students

Let us know

What could you do if student loan debt was canceled?

Share your plans

At 28 years old, I can't afford to start a family, I can't afford to buy a home, I can't afford to volunteer in my community, and I can't afford to go to the doctor. All of these things are now considered luxuries that I simply can't afford at this point in my life. All of my resources are dedicated to paying off student loans and interest rates.

- Jessica P., Student Loan Borrower
Together Power Vote Hero - NAACP

Funding Freedom Summer

The battle for our freedoms is going on right now, and with your help today, we can work together to repair America's democracy. Let's join forces and make a positive change for our country.

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