August 24, 2022 | WASHINGTON, D.C. — Today, President Biden announced an historic action to cancel student debt for tens of millions of Americans. Today’s action will provide up to $20,000 in debt cancellation to people with student debt who used a Pell Grant to pay for college and up to $10,000 in debt cancellation for all other borrowers, so long as borrowers earn less than $125,000 per individual or $250,000 per household. More information about this historic announcement is available here.
This announcement comes after years of advocacy for cancellation from a broad and diverse coalition. Most recently, more than 550 organizations from all 50 states called on President Biden to keep his promise to working families by immediately cancelling student loan debt via executive action.
These organizations—which include the NAACP, UnidosUS, American Federation of State, County and Municipal Employees (AFSCME), American Federation of Teachers (AFT), Communications Workers of America (CWA), International Brotherhood of Teamsters (Teamsters), International Federation of Professional and Technical Engineers (IFPTE), International Union, United Automobile, Aerospace, and Agricultural Implement Workers of America (UAW), National Education Association (NEA), National Nurses United (NNU), Service Employees International Union (SEIU), and United Food and Commercial Workers (UFCW), among many other economic justice and student debt-focused organizations—represent a major movement to cancel student debt in this country.
Learn More Here