Congresswoman Ayanna Pressley Continues to Push for Student Loan Debt Cancellation up to $50,000
Rep Ayanna Pressley. Image: Twitter/@TheHill
Facing the stress of student loan debt while juggling pandemic-related financial stress, is a real issue faced by many Americans. Advocates of providing student loan debt cancellation include Congresswoman Ayanna Pressley (D-Mass). In early April, Pressley, along with Sen. Elizabeth Warren (D-Mass.) and Massachusetts Attorney General Maura Healey, outlined a plan for President Joe Biden to cancel student loan debt for American borrowers.
A call-to-action for the president to cancel student loan debt up to $50,000 continued earlier this week when Rep. Pressley testified during a United States Senate Committee hearing on Banking, Housing, and Urban Affairs hosted by Sen. Warren.
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As the LA Times notes, the research doesn’t exactly break new ground.
Data has existed for years showing both that payday loan borrowers are disproportionately low-income and disproportionately Black and Latino, and that payday lenders tend to geographically target advertising and storefront locations in neighborhoods with high concentrations of African American, Hispanic and low-income households.
Researchers told the LA Times that they were expecting more Black and Latino faces in mainstream bank marketing materials, especially now after a year of uprisings since the killing of George Floyd and Breonna Taylor at the hands of police officers as well as a pandemic that highlighted and exacerbated longstanding racial disparities.
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