Most folks think that last week Biden canceled student debt. But the truth is that last week, Biden announced a cancellation plan that most people will have to APPLY for before their debts are canceled. All that Biden’s pledge has yielded so far is crashed government website and promises from the Dept of Ed that they are “working” on the application that the whole cancellation program rests on. Pretty great system.
Still. Some relief is coming, even if it’s going to be a set of hoops to jump through to get it.
There’s still a lot of missing information, but we want to make sure to share the most up-to-date information we’ve seen so far: https://forgivemystudentdebt.org/faq/. This website is the best guide that that currently exists to explain the Who, What and How of Biden’s limited cancellation. Please take a look.
One thing we DO know is that private student loans are NOT included in Biden’s cancellation plan. Even though the paperwork on these loans is signed by a different creditor (a private company, instead of the federal government), they’re still unjust loans that are just as crushing as federal loans. That’s why we’re having our first PRIVATE STUDENT DEBTORS’ ASSEMBLY on Sept. 20 at 7:30PM EST. Sign-up here.
Finally, we’re having our first welcome meeting tonight for the 50 OVER 50 STRIKE **tonight** at 7:30PM ET / 4:30PM PT. You can register to join the call here (you’ll receive a Zoom link by email after you RSVP.) � The 50/50 Strike is a pop-out from our broader student debt strike, designed specifically for student debtors over age 50 who are committed to striking payments when they turn back on.
The Debt Collective: a debtors’ union fighting to cancel debts and defend millions of households. Follow us on Twitter, Facebook, and Instagram. You can send us a letter at: Debt Collective, PO Box 285, Canton, NY 13617.