In June 2023, the U.S. Supreme Court voted 6-3 to strike down President Joe Biden's plan to help millions of American households by forgiving portions of government student loans.
In the process, they chose to force 40 million student loan borrowers to resume educational loan repayments. This will be a huge financial hardship for many American families.
Experts estimate that at least
1 out of 5 student loan borrowers are not going to be prepared to repay their loans.The Court's justices specifically voted down Biden's loan forgiveness plan by saying only Congress could authorize such a plan. So let's demand that Congress do the right thing and invest in the public by forgiving student loans!Right now, Americans are in more educational debt than ever before.
The total amount of U.S. student loan debt has now reached nearly $1.8 trillion. In just a few months, tens of millions of borrowers will suddenly be forced to begin paying hundreds of dollars each month towards these loans - an unprecedented situation, especially after repayments were on pause during the COVID-19 pandemic.
Student loan forgiveness provides huge benefits to the economy. First of all, the government should be helping to make education more accessible and investing in making sure its populace is trained and well-educated!
On top of that, during the past several years when loan repayments were on pause, economists estimate that borrowers gained back $15,000 on average to inject into the economy.
This has a huge impact on promoting economic growth and a stronger economy!Education should be a way for people to raise themselves out of poverty and make a better future for themselves and their families. But right now, education is crushing Americans through outrageous debt levels. The U.S. Congress has a moral obligation to tackle this crisis and invest in the public by forgiving student loans now! Sign the petition!