Thread by @jainfamilyinst

Student debt has exacerbated existing racial inequities, & cancellation can reduce the racial wealth gap. Student debt & struggles w/ repayment are greater among Black communities—

@RepPressley @RepMaxineWaters @SenSchumer's new resolution to #CancelStudentDebt responds to data:

See extensive research on the debt crisis and visualizations of millennial student debt by @laura_bmw @Econ_Marshall @frnsys & @Edi_Nilaj here—

phenomenalworld.org/analysis/mille…

Also see the overwhelming support for this legislation from over 300 research, advocacy, and consumer protection organizations in higher education—debt relief is a key issue across the U.S.

Among them, @NAACP @NEAToday @StrikeDebt @RealBankReform & more:
ourfinancialsecurity.org/2021/02/joint-…

Our recent report shows that a $50K student debt forgiveness plan would eliminate all student debt for ~80% of borrowers. Another 13% of borrowers would see at least half their debt erased—

@Econ_Marshall @laura_bmw on the proposal to #CancelStudentDebt
phenomenalworld.org/analysis/mille…