Student loans and coronavirus

Add your name. We are calling on Congress to immediately relieve the burden of student debt for millions of Americans during this uncertain and frightening time.

Dear MoveOn member,

The coronavirus pandemic is a health crisis unlike any we have ever seen before, and it is colliding with the economic crisis of this generation—student loan debt. Lost wages and medical costs will impact families across the U.S. for weeks, months, and years to come. Added to the persistent burden of student debt, this is a recipe for an economic disaster for millions of everyday people.

Canceling student debt in response to the coronavirus crisis will help the 45 million people with student loans and stimulate the economy when it is needed most. It will allow borrowers to purchase the necessities their families depend on: food on their table, a roof over their head, and critical health care.

Sign the petition asking Congress to cancel student debt.

We are calling on Congress to immediately relieve the burden of student debt for millions of Americans during this uncertain and frightening time.

In the long term, a student debt cancellation stimulus would help prevent or reduce the impact of an upcoming recession. Student debt cancellation can boost GDP by up to $108 billion a year and would add up to 1.5 million jobs per year.¹

Labor shocks like those that the pandemic is likely to cause will undoubtedly increase federal student loan defaults. Borrowers in default on federal student loans face having their tax refunds seized and wages garnished at a time when they can least afford it. We also call on lawmakers to immediately stop these actions that hurt distressed borrowers the most.

Click here to add your name to this petition, and then pass it along to your friends.

Thank you.

–Natalia Abrams, Student Debt Crisis

Source:

1. "Canceling $1.4 trillion in student debt could have major benefits for the economy," MarketWatch, February 8, 2018
https://act.moveon.org/go/117502?t=10&akid=259728%2E10220574%2EXRr46-

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