Cancel Federal Student Loan Debt Biden!

Cancel Federal Student Loan Debt Biden!

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Gregory Young started this petition to President Biden

My name is Gregory Young, and I am in $78,548.00 of student loan debt. This debt is crushing me. I was told that a college education was the only way to get ahead in life. No one told me that getting one would require I accumulate debt that would keep me from owning a home, buying a new car, or starting my own business.

My story is not unique. Millions of American households are being crushed by the burden of student loan debt. Currently, 1.7 trillion dollars in student loan debt has been accumulated by 45 million Americans. To put that number into perspective, the total credit card debt for all Americans is only 925 billion as of 2021. Student loan debt is second only to mortgage debt in America.

And despite what people may think, this is not just a problem exclusive to younger Americans. Americans over the age of 35 typically owe three times more student loan debt than Americans under the age of 25. This problem is multigenerational.

Like me, millions of Americans are struggling to repay this debt and push off economic supporting milestones, like buying a house or starting a family. If nothing is done to provide relief, a new recession is imminent. It is estimated that 40% of student loan borrowers will default by 2023, and an already struggling post-pandemic economy will not survive this.

On behalf of 45 million brothers and sisters struggling, please support this petition calling on President Biden to cancel federally owned student debt.

Together we can pressure Biden and Washington to act.

 

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