“We want to make sure that communities of color understand the importance of canceling student loan debt — how it will impact them directly,” said Jaylon Herbin, director of federal campaigns at the Center for Responsible Lending. Canceling student debt will open the doors for many students of color, including those who are first-generation college students. “We know that those that are first generation typically take out parent PLUS loans,” Herbin continued. “They also are on the Pell Grant, so we want to make sure that they have access to affordable repayments after they leave college and they are getting the best return on their investment which is to be able to have life, their American dream, open the door of opportunities for them, starting their family’s small business or whatever that investment may be to live that out without having to worry about the $400, $500 monthly student loan payment.”
