Today, the Supreme Court released yet another anti-worker decision, reversing efforts to cancel student debt. By definition, it is not the rich, but the working class, who suffer from student loan debt, taking out loans in hopes of bettering themselves and their economic prospects. In striking down student debt relief, the Court has effectively stolen $430 billion from the pockets of the working class. While the Court finds no issue with massive tax cuts for the rich, billions in corporate welfare, or repeated efforts to make it more difficult to vote, strike, or organize, today’s decision shows the level of ...
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Today President Biden once again showed that his Administration stands with working families over special interests by forgiving up to $20,000 in debt for Pell Grant recipients and up to $10,000 for non-Pell Grant recipients for borrowers who earn less than $125,000 per year or households earning less than $250,000. The student loan payment pause which has been vital for borrowers struggling because of the ongoing COVID-19 pandemic has also been extended for a final time through the end of 2022. Excessive student debt is a drain on our economy and burden for many working families strained by rising housing ...
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UAW members know all too well that student debt can be crippling for both themselves and their children. “Educational debt, when compounded by interest, becomes a millstone that compels recent graduates to prioritize the needs of financial institutions over those of their families,” says UAW President Ray Curry. “That is why our union calls upon President Biden to cancel student debt through executive action.” President Biden has already recognized the need to address this crisis head on. His administration has canceled $25 billion in student loan debt. According to Forbes, the Biden Administration has canceled more student loan debt than any ...
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