May 24, 2023
Today, 218 members of Congress passed the CRA (Congressional Review Act) to block President Joe Biden’s Student Debt Relief Plan. This effort means that payment pauses for over 40 million Americans will be reversed. Unfortunately, this also means that the 260,000 public service workers who were given debt cancellation will have their debts reinstated.
Many Americans just want a fair chance – student loan forgiveness is not a bailout but an opportunity for borrowers to access relief as their balances have increased over time despite making monthly payments.
Providing the American people relief – isn’t allowing “billionaires’ kids” an opportunity to access free college. Debt relief means giving people at the margins an opportunity to access the American Dream. It means allowing a public school teacher in DeKalb County, Georgia, an opportunity for financial freedom. It means providing a service worker in Michigan who makes less than $125,000 a year an opportunity to purchase a home, start a family, and make ends meet!
Rise is committed to debt relief as we will continue to advocate for borrowers across the country; we are also committed to ensuring that more students do not have to take on inescapable amounts of debt to access higher education.