President should act to ease student debt

Dear Editor:

I write regarding the student debt crisis and in support of canceling student debt.

Most borrowers take on student debt as a necessary risk to finance an education that is needed to compete in the job market. My family and I are managing six figures of student debt, mostly from my pursuing a doctoral degree in order to work as a psychologist.

I believe in what I do, but the continual financial sacrifices, of which my loan debt is the primary component, create significant stress. I have made job decisions solely based on managing my debt — at the cost of time with my family and such milestones as buying a house. It genuinely saddens me to think of others not pursuing helping professions, or, for many, not being able to afford college at all due to these concerns.

Not surprisingly, the student debt crisis affects Black Americans, and particularly Black women, to a greater degree than white Americans. The ACLU reported that canceling $50,000 of student debt per eligible borrower would function to reduce the racial wealth gap by at least 20%. However, the same report found that President Biden’s proposal to cancel $10,000 would actually increase the racial disparities.

Please urge President Biden to cancel $50,000 of eligible debt through executive order while longer-term solutions to help future students are put into place. It would be life-changing for me and so many others.

Faedra Dagirmanjian

Olivebridge