Student Loans

Student loans create debt burdens that impact families for generations. Black Americans in general, and Black and Latina women in particular -- often are forced to take on more college debt than their white counterparts in pursuit of the American Dream. The student debt burden is felt most acutely by attendees of Historically Black Colleges and Universities. CRL successfully led a coalition of advocates that achieved substantial student debt cancellation in 2022. We continue to advocate for higher education policies to protect student loan borrowers and their parents from falling into a cycle of debt that keeps them from engaging in wealth-building activities. 

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“Paying from the Grave”: Historically Black Colleges and Universities (HBCU) Alumni and the Burden of Student Loan Debt

“Paying from the Grave”: Historically Black Colleges and Universities (HBCU) Alumni and the Burden of Student Loan Debt

More than 44 million people in the United States—roughly one in six adults—collectively hold more than $1.6 trillion in federal student loan debt. Although many Americans are burdened by their student loan debt, borrowers who attended Historically Black Colleges and Universities (HBCUs) have been especially hard hit, due to the impacts of systemic racism on wealth accumulation for families and...
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Research
Student Loans

Poll Results: Federal Student Loan Payment Pause Helps Borrowers Pay for Basic Needs

Poll Results: Federal Student Loan Payment Pause Helps Borrowers Pay for Basic Needs

Morning Consult conducted a survey, commissioned by Center for Responsible Lending. The poll is presented as a short Powerpoint-style slide deck with key takeaways and charts. Key findings include: Millions struggled to meet their basic needs due to the burden of student debt Low-income borrowers in loan forgiveness programs were more likely to skip meals and face wage garnishment throughout...
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Research
Student Loans

Restoring Income-Driven Repayment

Restoring Income-Driven Repayment

Income-driven repayment (IDR) plans are designed to help borrowers make affordable student loan payments for no more than 20 or 25 years, depending on the type of plan. However, the complexity of these programs has made it notoriously difficult for borrowers to navigate: The application process is lengthy and requires annual re-enrollment; Servicing errors and abusive practices keep low-income borrowers...
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Policy & Legislation
Student Loans

Coalition Letter in Support of Extending and Expanding the PSLF Waiver & IDR Adjustment Student Debt Relief Programs

Coalition Letter in Support of Extending and Expanding the PSLF Waiver & IDR Adjustment Student Debt Relief Programs

More than 130 organizations representing students, student loan borrowers, teachers, workers, and consumers have sent a letter calling on the President to extend and expand the PSLF Waiver & IDR Adjustment student debt relief programs.
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Letters to Congress
Student Loans

Resilient But Deeper in Student Debt: Women of Color Faced Greater Hardships Through COVID-19

Resilient But Deeper in Student Debt: Women of Color Faced Greater Hardships Through COVID-19

Women carry about two-thirds of the $1.7 trillion of federal student debt, with Black women more than twice as likely as white men to owe more than $50,000 in undergraduate student loan debt. Women carry about two-thirds of the $1.7 trillion of federal student debt, with Black women more than twice as likely as white men to owe more than...
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Research
Student Loans

Broad Coalition of Organizations and Faith Leaders Urge $50K Cancellation of Federal Student Debt by Executive Action

Broad Coalition of Organizations and Faith Leaders Urge $50K Cancellation of Federal Student Debt by Executive Action

From the introduction to the letter: The undersigned civil rights, student, community, and consumer advocacy organizations, along with faith leaders from across the country, urge you to use the authority of executive action to cancel $50,000 of federal student loan debt per borrower to stimulate the economy, bridge the racial wealth gap, and alleviate the financial suffering of millions of...
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Letters to Congress
Student Loans

500+ Organization Coalition Calls on President Joe Biden to Immediately Cancel Student Debt

500+ Organization Coalition Calls on President Joe Biden to Immediately Cancel Student Debt

A broad coalition of 529 community, civil rights, education, climate, health, consumer, labor, professional, food and farm, and student advocacy organizations wrote a letter to President Biden urging him to strengthen the economy, tackle racial disparities, and provide much-needed relief to help all Americans weather the pandemic and record inflation by using executive authority to cancel federal student debt immediately...
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Letters to Congress
Student Loans

CRL Student Debt Cancellation HBCU Panel Discussion

CRL Student Debt Cancellation HBCU Panel Discussion

The Center for Responsible Lending (CRL) recently hosted a panel discussion to examine the student debt experience of students who attend or who have graduated from Historically Black Colleges and Universities (HBCUs). The group put faces to data as they discuss student debt cancellation and its potential impacts, particularly on people of color. Serving as moderator was Jaylon Herbin, CRL...
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Policy & Legislation
Student Loans

Necessary Relief: Substantial Cancellation Will Ease the Burden of Unaffordable Student Debt (and Boost the Economy)

Necessary Relief: Substantial Cancellation Will Ease the Burden of Unaffordable Student Debt (and Boost the Economy)

The student debt crisis has been building for decades, and millions of families have seen their dreams derailed by unaffordable debt repayment burdens that block their path to financial stability. As college costs rose, students had to take on increasing amounts of debt to pay for higher education. At the same time, state student financial aid offerings were drastically reduced...
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Research
Student Loans
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