Congresswoman Cori Bush and her 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 act ahead of midterm elections in November.
The Bloomberg News Service reported on June 3, 2022, that CBC members met with top Biden aides to make 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 that disproportionately impacts Black communities across the country. .”
“We call on the Biden administration to implement widespread student loan debt cancellation through executive action. We are committed to working with the administration to explore all options and request to meet with the President.
Black Caucus Chair Joyce Beatty had requested a meeting with Biden.
Senior White House officials reportedly met with lawmakers, labor leaders and civil rights groups.
Biden considered forgiving at least $10,000 per borrower, but refused to forgive individual debts of up to $50,000. The White House also suggested the pardon could be limited to people earning less than $125,000 a year.
Derrick Johnson, president of the NAACP, commented on Twitter that the plan does not address a significant amount of debt, especially for black borrowers, who are generally burdened with it.
“Cancelling $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 statement also addressed the plight of black students and families.
“This is a crisis created by political decisions, and we have a responsibility to address it head on. Canceling student loan debt is one of the most effective ways to address inequality persistent economic and racial issues that plague our country.
“As representatives of more than 17 million Black Americans and 80 million Americans, the urgency of this moment compels us to act with intention. To close the racial wealth gap and advance an economic recovery just and fair for all, we must reduce the burden of student debt.
There is $1.76 trillion in student loan debt in the United States, including $1.6 trillion in federal loans. The average federal student loan debt in the United States is currently $37,113 – a particularly heavy burden for black students.