Congresswoman Cori Bush and fellow members of the Congressional Black Caucus are increasing their pressure on President Biden to cancel at least some student debt. They called on Bien to use executive authority and to act before the midterm elections in November.
Bloomberg news service reported on June 3, 2022, that CBC members met with Biden senior aides to press their case.
In a statement released in late May, the Black Caucus said, “The $1.7 trillion student loan debt crisis is a racial and economic justice issue disproportionately impacting Black communities across the nation.”
“We are calling on the Biden Administration to implement broad-based student loan debt cancellation by executive action. We are committed to working with the Administration to explore all options and we are requesting to meet with the President.”
Black Caucus Chair Joyce Beatty had requested a meeting with Biden.
Senior White House staff have reportedly been meeting with lawmakers, union leaders and civil rights groups.
Biden has contemplated forgiving at least $10,000 per borrower but has declined to cancel individual debts of as much as $50,000. The White House also suggested forgiveness might be limited to individuals earning less than $125,000 a year.
Derrick Johnson, president of the NAACP, commented on Twitter that the plan does not address a meaningful amount of debt, especially for Black borrowers, who are typically burdened by more of it.
“Canceling $10,000 in student loan debt is like pouring a bucket of ice water on a forest fire,” he wrote, tagging Biden’s @POTUS Twitter account.
The CBC’s statement also addressed the plight of Black students and families.
“This is a crisis created through policy decisions, and we have a responsibility to address it head-on. Canceling student loan debt is one of the most impactful ways to address ongoing economic and racial inequities plaguing our nation.”
“As representatives of more than 17 million Black Americans and 80 million Americans, the urgency of this moment requires we move with intention. In order to reduce the racial wealth gap and advance a just and equitable economic recovery for all, we must alleviate the burden of student debt.”
There is $1.76 trillion in student loan debt in the US, including $1.6 trillion in federal loans. The average federal student loan debt in the U.S. is currently $37,113 – an especially heavy load for Black students.
