Opinion: Why income caps for student loan forgiveness would be a disaster – By Astra Taylor (NBC News) / May 21, 2022
The Biden administration cannot afford to fritter away a historic opportunity by turning a winning policy into a political and bureaucratic fiasco.
This weekend more than 460 women will get unusual letters in the mail: “We are writing to you with good news: Bennett College, in collaboration with the Rolling Jubilee Fund, has canceled the remaining unpaid balance you previously owed directly to the college.”
Bennett College is a small liberal arts college in Greensboro, North Carolina, and one of the country’s two Historically Black Colleges and Universities for women. All told, more than $1.7 million of tuition-related debt was erased for former students, some of whom had balances in excess of $20,000. Now, every single account the school had in collections has been wiped out as a no-strings-attached gift.
Why did the Rolling Jubilee Fund do this? The Rolling Jubilee is an initiative of the Debt Collective, the country’s first union for debtors, which I helped found. For nearly 10 years, we’ve been leading the movement to push the government to cancel all student debt. We decided to partner with Bennett College to call attention to the disproportionate impact the student debt crisis is having on Black women and to push President Joe Biden to keep his campaign promise on student debt elimination for the country’s 45 million borrowers.
CONTINUE > https://www.nbcnews.com/think/opinion/biden-student-loans-forgiveness-bennett-college-rcna29847
