$1.7 trillion. That’s how much an estimated 45 million Americans owed toward student loans in 2022. Student loan debt is the 2nd largest consumer debt category and is even higher than credit card and car loan debt!.
Canceling student debt is the right move for students and our economy. Millions are stuck paying loans that continue to grow despite payments. These loans can take decades to pay off, hampering the ability to save for other costs such as homeownership and retirement. Canceling student debt makes economic sense – studies have shown that it would grow economic productivity by $80 billion each year, create more than a million jobs a year, and reduce unemployment, lifting up to 5.2 million households out of poverty.
Golden State Opportunity believes that canceling student debt is one way to combat poverty and keep people out of poverty to begin with. Student debt cancellation means a stronger economy, less poverty, and a brighter future for many.
Sign on if you agree that total student debt forgiveness needs to become a reality ASAP!