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October 25, 2021

College in America is inaccessible and unaffordable—so much so that fewer than half of adults ages 25 to 34 have an associate degree or higher. That number is even lower among Black Americans, Latinx Americans, low-income people, and people with disabilities.

Broad cancellation of student debt through executive action is good for the economy and should be implemented immediately as a tool for economic stimulus and recovery. Alongside catalyzing economic growth, student loan cancellation will also positively change the trajectory of borrowers’ lives. However, student debt cancellation alone will not end the student debt crisis. Congress must also address the prohibitive cost of college to ensure that the cycle of debt does not continue.

Debt-free college legislation will prevent students from choosing between higher education and basic necessities. It will allow students the freedom and financial stability to contribute to the economy, purchase homes, start small businesses, have reproductive freedom, and more.

Check out our fact sheet on the need for federal action on free college legislation, and learn even more in these state-by-state America’s College Promise fact sheets, drafted in collaboration with the Center for Law and Social Policy, Jain Family Institute, National Consumer Law Center, and other members of Generation Progress’s Higher Ed Not Debt (HEND) campaign.

You can also take action to tell Congress to pass free college legislation and cancel student debt!

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