It is not a rich child who borrows a student loan.Tolerant debt boosts the middle class
This summer, President Joe Biden took a single meaningful action to help rebuild the American middle class, close the racial wealth gap, and restore confidence in both the federal government and higher education. There is a rare opportunity to take it. Canceling a student’s debt will make the promise of equal access to higher education a reality. Approximately 7.5 million black borrowers have student debt, which is 30.2 percent of all black households.