September 23, 2020

Broad cancellation of student debt is good for the economy and should be considered as a tool for economic stimulus and recovery. Research shows that student debt cancellation can stimulate the macro-economy and boost GDP by billions of dollars, reduce the unemployment rate, and add up to 1.5 million new jobs. Alongside catalyzing economic growth, student loan cancellation will also positively change the trajectory of borrowers’ lives.

Student loan debt is preventing young people from buying homes, starting families, saving for retirement, and generally having choices about their finances and economic wellbeing.

Find out more in these state and national 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 cancel student debt with Generation Progress!

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