Discover and read the best of Twitter Threads about #cancelstudentdebt
Most recents (24)
In 4 days, SCOTUS hears arguments on a case seeking to stop President Biden’s life-changing student debt relief plan.
Here’s a 🧵on 4 things you should know before then:
Here’s a 🧵on 4 things you should know before then:
On August 24, 2023, @POTUS heeded the call of borrowers, advocates & activists & announced that he would cancel up to $20,000 in student loan debt for people earning less than $125,000.
After the Nov. application launch, 26M borrowers applied & 16M borrowers were approved.
After the Nov. application launch, 26M borrowers applied & 16M borrowers were approved.
In October, six Republican AGs, including Missouri’s, filed a lawsuit challenging student loan debt relief, falsely claiming it would threaten the revenue of loan servicers like MOHELA.
So I sent a letter to MOHELA asking how they are involved.
So I sent a letter to MOHELA asking how they are involved.
🧵 1/
The Democratic Party needs a messaging revamp, like now. You can't tell us "Democracy itself is on the line", even when that's true, and expect to get by on this milquetoast bs. You lost the midterms to a clown show, and its getting worse.
The Democratic Party needs a messaging revamp, like now. You can't tell us "Democracy itself is on the line", even when that's true, and expect to get by on this milquetoast bs. You lost the midterms to a clown show, and its getting worse.
2/
FACT: Republican malfeasance in our nations pandemic response killed 500,000 Americans or more. They called it a chinese bioweapon but then protested and fought every measure to save lives while stuffing their pockets with tax money.
FACT: Republican malfeasance in our nations pandemic response killed 500,000 Americans or more. They called it a chinese bioweapon but then protested and fought every measure to save lives while stuffing their pockets with tax money.
3/
FACT: Donald Trump is a criminal who tried to overthrow the constitution in a violent coup attempt. He needs to stand trial for that, and his enablers in congress need to be REMOVED under the 14th Amendment. The excuse that "they wont let us" is trash.
#January6th
FACT: Donald Trump is a criminal who tried to overthrow the constitution in a violent coup attempt. He needs to stand trial for that, and his enablers in congress need to be REMOVED under the 14th Amendment. The excuse that "they wont let us" is trash.
#January6th
The rush to define Rep. Hakeem Jeffries as "corrupt" while simultaneously saying WE HAVE NO IDEA WHO THIS GUY IS is a pretty big tell from many on the left who are dedicated to sabotage unless they're put in charge.
They don't want Black leadership unless its on their terms.
They don't want Black leadership unless its on their terms.
A lot of us have been screaming for years that when folks rail against "establishment Dems" they're talking about Black folks.
Rep. Hakeem Jeffries and his elevation as Minority Leader I think is going to illuminate this.
A lot of people are going to reveal themselves.
Rep. Hakeem Jeffries and his elevation as Minority Leader I think is going to illuminate this.
A lot of people are going to reveal themselves.
The other thing about Jeffries is he's unapologetic, does not suffer fools and fine w/ confrontation
Traditionally this is not something them other folk accept from Black leaders
Particularly if you believe you can tell us what to do but it should NEVER be the other way around
Traditionally this is not something them other folk accept from Black leaders
Particularly if you believe you can tell us what to do but it should NEVER be the other way around
[BREAKING] @AFTunion @theSBPC have accused student loan giant @MOHELA of illegal student loan servicing, demanding the company end its scheme to block Biden's effort to #CancelStudentDebt.
We should #cancelMOHELA instead.
We should #cancelMOHELA instead.
Today's action comes 24 hours before right-wing Missouri @AGEricSchmitt heads to federal court on behalf of @MOHELA, asking a judge to halt debt cancellation for 40M Americans.
The injury MOHELA allegedly suffered?
"Imminent loss of revenue" because millions are debt-free.
The injury MOHELA allegedly suffered?
"Imminent loss of revenue" because millions are debt-free.
This is, plainly put, un-American.
Imagine if a military contractor like Raytheon or General Dynamics ran into federal court because their executives opposed America's promise to send weapons to Ukraine.
We don't let federal contractors dictate public policy for good reason.
Imagine if a military contractor like Raytheon or General Dynamics ran into federal court because their executives opposed America's promise to send weapons to Ukraine.
We don't let federal contractors dictate public policy for good reason.
Six Republican state AGs sued to block Biden from canceling student debt.
They claim "standing" because their states-- SC, KS, IA, NE, AR, MO -- own old federal loans or back state-chartered student loan companies.
How is this possible?
A deeply disturbing 🧵 (with zombies)
They claim "standing" because their states-- SC, KS, IA, NE, AR, MO -- own old federal loans or back state-chartered student loan companies.
How is this possible?
A deeply disturbing 🧵 (with zombies)
For as long as I've been in DC, companies like Missouri's student loan company @MOHELA and their lobbyists at @ncher_us @EFCTweets @SLSAorg fought tooth & nail to keep people trapped in debt and shield industry from justice.
Why do they have power? Why do they exist at all?
Why do they have power? Why do they exist at all?
🚨#PSLF folks, got an updated🧵on how to navigate the Limited Waiver & those panic-inducing MOHELA review letters that look like rejections. If you got a review letter and you think all hope is lost, it is NOT. Follow along ⬇️ (1)
(2) First rule of the limited #PSLF waiver. REVIEW THE RULES! Don't waste time calling your loan servicer. Read info from @usedgov directly. Here is the link to the waiver page & FAQs. Almost every question can be answered there: studentaid.gov/announcements-…
3) The 1st thing to figure out for the #PSLF waiver is your LOAN TYPE. Your LOAN SERVICER is irrelevant! FFEL, FFEL consolidation, or Perkins loans MUST be consolidated. Go to your profile on studentaid.gov, click on "view details" for each loan to see your loan types.
President Biden’s long awaited announcement of a plan to alleviate the student debt of roughly 20 million Americans has ignited a national debate about the fundamental role of higher education in our society.
The AAUP would like to weigh in...
🧵
1/
The AAUP would like to weigh in...
🧵
1/
From the AAUP’s perspective, higher education exists to support the common good. An education should be accessible & affordable as a human right to anyone willing to seek it.
Biden’s action on student debt relief is a vital first forward…
2/
Biden’s action on student debt relief is a vital first forward…
2/
toward reaffirming the purpose & promise of higher education in our democracy. This transformative plan will go a long way toward narrowing the racial wealth gap exacerbated by the student debt crisis
3/
3/
I've been paying my student loans for 15 years, with about 8 to go.
They're not pleasant but I never asked for or expected forgiveness. I asked for the money and agreed to pay it back.
#CancelStudentDebt
They're not pleasant but I never asked for or expected forgiveness. I asked for the money and agreed to pay it back.
#CancelStudentDebt
I've worked a ton of OT to pay my loans down faster, and refinanced them to private (several times) for lower interest rates.
That's called being responsible and handling my shit.
It disqualified me from forgiveness, while I still get to pay for theirs.
#CancelStudentDebt
That's called being responsible and handling my shit.
It disqualified me from forgiveness, while I still get to pay for theirs.
#CancelStudentDebt
Irresponsible behavior is being rewarded. I feel like a sucker for doing things right and taking care of myself.
#CancelStudentDebt
#CancelStudentDebt
The plan forgiveness announced by @JoeBiden and @KamalaHarris appears to be BS. It only applies to “loans held by the Department of Education,” which would be Direct loans issued after 2009 or FFELP loans that were purchased by the govt during the Great Recession. 1/
Loans like mine that were disbursed prior to 2009 were federally guaranteed, but funded by private companies. Direct federal loans were not issued prior to 2009. FFELP borrowers whose loans were not bought by the govt (such as mine, which remain with @Navient) are out of luck
3/3
Sources: studentaid.gov/debt-relief-an…
nerdwallet.com/article/loans/…
I hope I'm wrong about this. #CancelStudentDebt
Sources: studentaid.gov/debt-relief-an…
nerdwallet.com/article/loans/…
I hope I'm wrong about this. #CancelStudentDebt
We’ve been working towards this day for a long time, and it’s here: President @JoeBiden is taking historic action to cancel up to $20,000 of debt for millions and millions of Americans.
Make no mistake: This is one of the biggest acts of consumer debt relief in American history, and it will directly help hard-working people who borrowed money to go to school because they didn’t come from a family that could write a big check.
By canceling student debt, President Biden is helping working people who are struggling with rising costs. He’s freeing people up to buy homes or start new businesses or start families. And he’s helping narrow the racial wealth gap for borrowers. It’s a big step forward.
Today is a day of joy and relief.
President Biden is cancelling up to $20,000 of federal student debt for as many as 43 million Americans — a powerful step to help rebuild the middle class.
This will be transformative for the lives of working people all across this country.
President Biden is cancelling up to $20,000 of federal student debt for as many as 43 million Americans — a powerful step to help rebuild the middle class.
This will be transformative for the lives of working people all across this country.
Cancelling student debt will provide financial relief to millions of Americans who borrowed to pay for college because they didn’t come from wealthy families.
This powerful action will also help narrow the racial wealth gap among borrowers.
This powerful action will also help narrow the racial wealth gap among borrowers.
The bottom line is this: Millions of working people will have a chance to build a more secure economic future because of President Biden’s decision to #CancelStudentDebt.
Since today’s #CancelStudentDebt announcement tease, I’ve been obsessed with the inflation calculator and how boomers’ sense of money/value is so off. My mom made $13K/year as a public school art teacher in 1972. Paltry right? You may be shocked to see that in today’s US dollars.
I also looked up the 2022 value of $125,000 in the years my husband and I were born.
No one is arguing $125,000 isn’t a lot relative to so many who are not afforded a living wage (another catastrophic policy fail!). The point is our parents had so much more opportunity than we have, things cost less, they made more, and I fear what it’ll look like for our kids.
Takeaways from working on student debt cancellation during the past year:
-It is fair
-It promotes economic security
-It narrows racial wealth disparities
-It does not preclude other public welfare improvements
-It does not increased inflation
A🧵explainer on #CancelStudentDebt
-It is fair
-It promotes economic security
-It narrows racial wealth disparities
-It does not preclude other public welfare improvements
-It does not increased inflation
A🧵explainer on #CancelStudentDebt
It is fair. It was wrong for the gov’t to shift its responsibility to fund higher education onto students and their families. Public colleges used to be free or have low-cost tuition before gov’t cut funding.
It promotes economic security. Research shows that borrowers will redirect student loan payments to their savings and service other debts. We all benefit from broad economic security, but student loan payments have no marked benefit to anyone.
Let's take a closer look at some of the loudest critics of #CancelStudentDebt.
Are they wealthy?
Did they go to elite schools?
Are they powerful people helped by the status quo?
(Spoiler alert: yes)
A 🧵
Are they wealthy?
Did they go to elite schools?
Are they powerful people helped by the status quo?
(Spoiler alert: yes)
A 🧵
This is Jason Furman.
He:
* Is the son of a shopping mall developer 🤑
* Went to Dalton, an elite private K-12
* Went to Harvard & London School of Economics
* Hates student debt cancellation
He:
* Is the son of a shopping mall developer 🤑
* Went to Dalton, an elite private K-12
* Went to Harvard & London School of Economics
* Hates student debt cancellation
This is Matt Yglesias.
He:
* Will likely earn $1 million+ in 2022
* Went to Harvard
* Is not a fan of universal workplace safety standards
* Thinks we shouldn't #CancelStudentDebt because it doesn't solve every problem in higher ed.
He:
* Will likely earn $1 million+ in 2022
* Went to Harvard
* Is not a fan of universal workplace safety standards
* Thinks we shouldn't #CancelStudentDebt because it doesn't solve every problem in higher ed.
Friday, August 19, 2022.
News you can use. 🧵
News you can use. 🧵
The efforts to protect people and their private data, or even educate the public on how and what kinds of data are collected by smart phones, and who that data is shared with, have been stunningly underwhelming...like a lot of things.
Student loans are often called "good debt" — but in practice they only strengthen systemic wealth inequality.
The typical Black student loan borrower still owes 95% of their balance 20 years after they started college.
The typical white borrower owes just 6%. 🧵
The typical Black student loan borrower still owes 95% of their balance 20 years after they started college.
The typical white borrower owes just 6%. 🧵
Black students are more likely to need loans due to systemic inequality in income/generational wealth.
The average white family is 10x wealthier than the average Black family.
49% of Black students' parents make less than $35K a year, compared to 13% of white students' parents.
The average white family is 10x wealthier than the average Black family.
49% of Black students' parents make less than $35K a year, compared to 13% of white students' parents.
"Slavery and Jim Crow prohibited Black people from accumulating the wealth ultimately converted into income for tuition," @BrookingsInst's @andreperryedu told AJ+.
Housing discrimination is just 1 example of barriers to Black wealth that now force many families to take on loans.
Housing discrimination is just 1 example of barriers to Black wealth that now force many families to take on loans.
HAPPENING NOW: @rweingarten talks to the @nysut conference of leaders. Follow along in the thread below.
.@rweingarten: After the 2016 election, several of us got together in Washington DC to see what we needed to do next. Rather than talking about politicians to voting, we now focus first on what the values are to lead people to vote.
.@rweingarten: It doesn't matter where you are or how you've voted in the past. What matters is, what are the values we're voting on? I know everyone in this room believes in well-resourced public education as an aspiration agent.
#PSLF folks, thought I'd share an updated🧵on how to navigate the Limited Waiver & those panic-inducing review letters that look like rejections. Seeing so many stressed out people when we should be celebrating how close to cancelation we are. Follow along ⬇️ (1)
(2) First rule of the limited #PSLF waiver. REVIEW THE RULES! Don't waste time calling your loan servicer. Read info from @usedgov directly. Here is the link to the waiver page & FAQs. Almost every question can be answered there: studentaid.gov/announcements-…
3) The first thing you need to figure out for the #PSLF waiver is your LOAN type. FFEL, FFEL consolidation, or Perkins loans MUST be consolidated before applying. Go to your profile on studentaid.gov, under your dashboard, click on "view details" for each loan.
The party should always be evolving and it is. It is filled with smart women, Black folks, LGBTQIA. People willing to work. The party is not perfect but it does not need to bend to the will of disaffected Bernie supporters. And that’s what this fight is really about.
This not about “fight” or a “plan” or “meeting the moment” or none of that shit. This is about a calculated effort to take over a party that rejected them. It’s happening on multiple fronts and either you get that or you don’t. Either you see it or you won’t.
I do not want a "fighter." I don't want politicians always on Twitter "fighting" about something. I want workers. People willing to put in the time and sweat equity. Don't tell me your plans. Get in there and work for them. Show me your history of turning your plans into action.
Tuesday, June 7th, 2022.
News you can use. 🧵
News you can use. 🧵
The DeSantis admin/GOP wanted to spread COVID on purpose.
"State auditors reviewed a sample of 2,600 tests taken at three state-run testing facilities and found that state-contracted laboratories failed to return results for nearly 60% of tests."
tampabay.com/news/florida-p…
"State auditors reviewed a sample of 2,600 tests taken at three state-run testing facilities and found that state-contracted laboratories failed to return results for nearly 60% of tests."
tampabay.com/news/florida-p…
The Biden administration will automatically cancel the student debt of more than half a million Americans defrauded by Corinthian College — it’s long-overdue justice.
I’ve been fighting for years, alongside @VP & many advocates, to get these borrowers relief from crushing debt.
I’ve been fighting for years, alongside @VP & many advocates, to get these borrowers relief from crushing debt.
In 2014, we forced the @usedgov to acknowledge that students defrauded by Corinthian College had a right to debt forgiveness and launched a campaign to urge the Department to provide that relief.
Through letters, hearings, investigations, campaigns, and work with state officials — including tireless efforts of @VP — we urged more and faster relief for cheated students.
washingtonpost.com/news/business/…
washingtonpost.com/news/business/…
Labor unions across the nation are demanding @POTUS use his executive authority to #CancelStudentDebt.
Here’s why.
Here’s why.
Student debt is wage theft. Plain and simple. Interest-heavy loan payments take a huge bite out of workers' take home pay every month. They’re one of the most regressive kinds of pay cuts – the poor, the working class and Black/brown folks lose the most.
Student debt is also a form of indenture. If you have to take on debts in order to get a job—and then you have to toil for years to pay it off— that’s the definition of indentured labor.
Today we are thrilled to announce our partnership with @BennettCollege, a historically Black liberal arts college for women in Greensboro, NC. Founded in 1873, Bennett Belles have an amazing history in education and activism.
This week, almost 500 former students will be getting letters in the mail telling them the debts they owed directly to the school are erased via our sister initiative, the Rolling Jubilee. Why did we do this?
As we say in the letter, we understand this has been a tough few years and we want to lift a weight off people’s shoulders. Cancelling this debt means people can get their transcripts, diplomas and move on with their lives. Bennett administrators agreed this debt needs to go.
There's a recurring talking point used to oppose student debt cancelation — and wow have we heard it a lot. Repeated by Republicans and Democrats alike, there is a "concern" that while canceling student debt may be good, it won't solve the "root" of the problem.
Ok. So thread.
Ok. So thread.
Let's start here and say it plainly: They are correct!
If all student debt is canceled today, future students —mostly low-income— will still have to debt-finance education. They will still have to mortgage their future. That's bad!
This. Is. Why. We. Push. For. Free. College.
If all student debt is canceled today, future students —mostly low-income— will still have to debt-finance education. They will still have to mortgage their future. That's bad!
This. Is. Why. We. Push. For. Free. College.
Free College SOLVES the "root" of the problem. That's what's necessary. We're fighting for debt cancelation AND free college, as are most of us! There is no need — no need at all — to juxtapose these fights and pit solutions against each other. It's both/and.
