Why is SRRT is asking ALA to support student loan cancellation? The association needs to provide clear evidence of active support and concern for members. Evidence demonstrates that the student debt crisis is racialized and gendered. This is not a radical position. And it IS a library issue.
Here's ALA's student loan debt info page:
https://www.ala.org/educationcareers/education/financialassistance/loanforgivenessIn comparison, these professional organizations have take a position supporting student loan debt cancellation :
And the civic and nonprofit organizations supporting student loan debt cancellation include
- NAACP https://naacp.org/campaigns/50k-beyond and https://docs.google.com/forms/d/e/1FAIpQLSeJTzTI_e459JaypTpfSIbfCiRvuz9WtXD9X9AEA5X0Z_rT1A/viewform
Data suggests that cancellation policies beyond $50,000 would benefit all demographics, eliminate racial disparities in student debt, and boost our struggling economy. We must continue to apply pressure and demand that the leaders elected by the movement we built follow through on racial equity and ensure equitable and affordable pathways for education.
- Aspen Institute https://www.aspeninstitute.org/blog-posts/the-federal-government-should-cancel-at-least-30000-of-your-student-loans-heres-why/
Canceling at least $30,000 in student loan debt for all borrowers is one of the most powerful tools policymakers have to ensure that, when the pandemic ends, millions of people and families will be able to fully participate in the economic recovery.
- Brookings Institution ." https://www.brookings.edu/research/student-loans-the-racial-wealth-divide-and-why-we-need-full-student-debt-cancellation/
Because education does not achieve income parity for Black workers, the disproportionate debt Black students are taking to finance their education is reinforcing the racial wealth gap. Today, the average white family has roughly 10 times the amount of wealth as the average Black family, while white college graduates have over seven times more wealth than Black college graduates.
- ACLU https://action.aclu.org/petition/cancel-student-debt-50k-every-borrower
Students of color pursue higher education in a social and economic system built on racist ideologies that is set up to work against them and perpetuate racial wealth and income and achievement gaps. To redress this systemic inequality, the ACLU, Center for Responsible Lending (CRL), and more than 300 other organizations are calling on the Biden-Harris administration and Secretary of Education Miguel Cardona to use their authority under the Higher Education Act to cancel $50,000 of student debt per borrower, and Congress must act as well.
- The Century Foundation, The Roosevelt Institute, and Demos https://tcf.org/content/report/bridging-progressive-policy-debates-student-debt-racial-wealth-gap-reinforce/?agreed=1
Due to lower family wealth and racial discrimination in the job market, Black students are far more likely than white students to experience negative financial events after graduating-including loan default, higher interest rate payments, and higher graduate school debt balances. This means that while many Black families currently need to rely on debt to access a college degree and its resulting wage premium, the disproportionate burden of student debt perpetuates the racial wealth gap.
- Annie E. Casey Foundation https://www.aecf.org/blog/solutions-to-the-student-debt-crisis-in-a-time-of-economic-distress?gclid=CjwKCAjwlcaRBhBYEiwAK341jaUqMYo03ePePU4UJEL0FrURblhq5MU9mIK4QJfD4zdaTQn-KXYZNxoC0D8QAvD_BwE
- YWCA USA joined the Leadership Conference on Civil and Human Rights's letter asking the Biden-Harris administration to immediately cancel student debt.
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Sherre Harrington
SRRT Coordinator
She/Her/Hers
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