Earlier this week, the nonprofit Student Debt Crisis Center tweeted:
Today (Aug. 29.), the student debt crisis reached $2,021,963,766,634
The debt crisis grows out of control every day, and you and I are victims of its predatory nature. I want nothing more than to wake up on Sept. 1 and hear that interest won’t accrue on my loans or that come October, I don’t have to pay them back. But as much as I love to be delusional, I know the reality of my student loans is out to get me.
The flip side is that I’m not alone in this debt and neither are you.
The Big Payback
If there’s a will, there’s a way, and with the nation’s first debtor’s union, the Debt Collective, they continue finding pathways to get us all debt-free.
This week, they launched the Student Debt Release Tool, helping borrowers apply pressure and petition the Biden administration to use authority under the Higher Education Act to cancel our loans.
“President Biden says he is going to use every tool he can to cancel student debt, but there is still much more he can do,” noted Debt Collective co-founder Thomas Gokey. “With this new tool, we are calling his bluff and demanding he cancel the debt for everyone today.”
The Student Debt Release Tool will create a personalized letter from each borrower that is sent to the U.S. Department of Education afterward.
Read more: Black women have to fix everything, so why not the student debt crisis?
The Debt Collective explains the process will have minimal steps and take no more than 10 to 20 minutes:
- You answer some basic questions about your student debt.
- Based on your answers, we’ve created legal language to assert why your loans are BS and should be canceled. Those answers will generate a demand letter.
- When you’ve completed all the questions, the form will get sent automatically to key officials with the power to act at the Department of Education.
“Using this new tool can in no way harm you,” Braxton Brewington, Press Coordinator of the Debt…
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