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Student debt cancellation advocates encouraged by Biden, others remain skeptical

ADVERTISEMENT Manju Bangalore, a student debt campaigner at Progressive Change Campaign Committee, said Cordray’s appointment was promising. “We believe he will stand up for student borrowers as he did in his position at CFPB. The time is now to cancel $50,000 of student debt and we look forward to Cordray being in the mix on this issue,” Bangalore said. The American Civil Liberties Union also praised Cordray’s appointment. The organization’s senior campaign strategist Rakim Brooks urged Cordray to cancel $50,000 of debt in an effort to help minority communities.  “Canceling $50,000 in student debt would help close the racial wealth gap and support financial freedom for Black and Latinx borrowers who are disproportionately burdened by student debt, all while addressing this debt crisis for millions more,” Brooks said.

People | Will Smith News, Features and Galleries

People | Will Smith News, Features and Galleries | The Sydney Morning Herald

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