By Charlene Crowell –
A February 28, 2023 rally held on the steps of the Supreme Court of the United States is believed to be the largest-ever event supporting student loan cancellation.
The four-hour event featured more than 30 speakers as diverse as they were dedicated. It coincided with the court’s scheduled oral arguments in a case brought by eight states that have challenged the legality of granting up to $20K in federal loan forgiveness for eligible borrowers.
Until the nation’s highest court makes its far-reaching decision, 26 million borrowers who qualified for loan forgiveness, and an additional 16 million with pending applications, remain in financial limbo, uncertain when or if the nation’s highest court will allow cancellation of unsustainable student loan debt incurred in pursuit of higher education and a better life.
The future of loan forgiveness is also important to multiple generations of families spanning grandparents and other older members helping to pay for the high cost of college by using retirement funds and/or Social Security benefits to lessen debt burdens. At the same time, younger generations are prevented from purchasing a home, starting a business, or even furthering their own education.
Billed as the People’s Rally for Student Debt Cancellation, the event culminated months of mounting advocacy supporting forgiveness that revived rounds of advocacy in the aftermath of the states’ legal challenge. Over the ensuing months, diverse advocates—college and university professors, civil rights organizations, public policy advocates, and others—all united in defense of student loan borrowers.
“Like millions of Black borrowers denied the ability to build generational wealth, I know the burden of student loan debt,” said Massachusetts Rep. Ayanna Pressley, and a member of the Congressional Black Caucus who spoke at the rally. “I know what it is to land in default when your family is tripped up on…
Read the full article here
