“Seeking Equity in Education: The Challenge and Hope of Student Debt Relief”
STUDENT DEBT RELIEF IS LEGAL
16 million borrowers who applied for President Biden’s cancellation program were told that relief was on the way, but now, the situation is still the same.
The Department of Education data shows returning to repayment without cancellation will be even worse. Students want the opportunity to pursue higher education, but we have to make it accessible and equitable first.
The NAACP is committed to supporting borrowers as we continue to work towards full cancellation. We’re working with the Department of Education to educate our communities on the cancellation options available to them through the SAVE program – but that’s not enough. Find resources, statistics, and stories below.
SAVE ON STUDENT DEBT
As of today, millions of Americans are faced with the reality that their loans have begun accruing interest that they cannot afford. We are excited to be a part of SAVE On Student Debt, a national campaign to spread the word about the Saving on A Valuable Education (SAVE) Plan.
-This may help alleviate the crisis that millions of borrowers are facing, especially the 50% of Black borrowers who stand to fall into default, though some may see relief and some may not.
The SAVE plan will:
protect more of a borrower’s income for basic needs
ensure that borrowers never see their balance grow due to unpaid interest as long as they keep up with their required payments.
halve the share of income that goes to payments on undergraduate loans
Learn more about how you can SAVE with this new income-driven repayment plan at www.naacp.org.
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