News

Press Releases

Student Defense Statement on Biden Administration Issuing Broad Student Loan Cancellation

FOR IMMEDIATE RELEASE:
August 24, 2022

MEDIA CONTACT:
press@defendstudents.org | 202-734-7495

Student Defense Statement on Biden Administration Issuing Broad Student Loan Cancellation

In response to the Biden Administration’s announcement regarding student debt cancellation, Student Defense President Aaron Ament issued the following statement:

“The Biden Administration’s decision to issue broad student debt cancellation shows they’re working to provide much needed relief to borrowers who find themselves hamstrung by student debt. It will be life-changing for millions of Americans. But without swift and meaningful reforms, it’s likely we’ll end up back in this precarious situation in the near future. Now is the time for the White House, Congress, and the Department of Education to work with a new urgency to tackle the problems that got students into this mess.

“Decision makers should work to shore up front-end protections for students attending career programs, mandate quality assurance and affordability standards like Gainful Employment, and ensure repayment and collection systems work to help borrowers pay off their student loans. These oversight and accountability measures would help ensure today’s debt cancellation is the start of long-term systemic relief.

“If your boat starts taking on water, you need to do two things: bail the water out and plug the leak. Issuing this debt cancellation is an important step toward getting the water out. Now it’s time for the Department to start plugging the hole.”