On Tuesday, before oral arguments at the Supreme Court began on the Biden Administration’s student debt relief plan, U.S. Senator Bob Menendez<\/a> (D-N.J.), a leading advocate in Congress for meaningful student debt relief, stood in solidarity with student borrowers, parents, students, and advocates for the historic People’s Rally for Student Debt Cancellation.<\/p>\n

The White House reports that over 759,000 borrowers in New Jersey have filed for student loan forgiveness, and that many more would benefit from the Administration’s proposal.<\/p>\n

More than 40 million Americans, including many federal borrowers of colour (particularly Blacks and Latinos), stand to gain from these initiatives to reduce their student loan debt. Black borrowers may expect to have their average balance reduced by nearly half, while more than one in four Black borrowers will see their balance forgiven entirely.<\/p>\n

Forgiveness of student loans is a morally sound policy. Aiding the tens of millions of hardworking Americans who are currently struggling financially is the moral thing to do. It’s the moral thing to do to work towards a system of higher education in which every American has a fair shot at success.<\/p>\n