President Biden has recently asked the Department of Education and the Department of Justice to look into his legal authority to cancel student loan debt.
We already know that he has the legal authority to cancel student debt under section 432(a) of the Higher Education Act of 1965.
In the last three decades, the costs of college have skyrocketed, making higher education essentially inaccessible and unattainable for working people. This has created even deeper economic inequality, and it has worsened the racial wealth gap, which is evidenced by the fact that Black Americans are more likely to take on student debt, have $7,400 more in debt on average, and more likely to default on their loans than white Americans.
Democracy for America has been supporting the movement to cancel student loan debt for years and now we have a real chance at making this happen.
Sign our petition now to demand that President Biden cancel student loan debt.