Organized debtors just won big. And we’re not stopping til all the debt is ALL gone.
After months of dragging his feet, Biden has finally announced his plan of debt cancellation: up to $10,000 for borrowers with incomes under $125,000 a year and up to $20,000 of cancellation for Pell grant recipients.
We know this is far from what justice demands – to close the raccial wealth gap, to unchain generations of indebted families, to actually have a reparative higher education policy. We know the road ahead is long, with much much more work to do.
But right, now we’re celebrating. Organized debtors forced Biden – who has sided with banks over debtors his entire career – to administer debt cancelation for working-class communities. This is a testament to the power of a union of debtors banding together to exercise political and financial power.
If you came to a debtors’ assembly, this is your win. If you invited a friend to come to the action with you, if you made a sign, if you signed a petition, if you talked to a colleague about your debt, if you wore your debt to work, if you wrote an op-ed, if you pledged to strike, this is your win.
Please join our Jubilee Hour tomorrow, 7:30-8:30PM EST. We will gather to take a moment to bask in how far we’ve come, and point out the horizons we’re still marching towards. Biden didn’t do this — WE did.
Also be sure not to miss the awesome “Freedom Dreams” documentary that dropped yesterday about Black women’s leadership in the fight for debt cancellation.
AND ONE FINAL THING – it has taken us ten yearss to get $10K of student debt canceled. Can you throw in $10 bucks so the next round of cancellation doesn’t take quite so long?
A debt-free future is on its way. We’re never going back again —
The Debt Collective