Washington, D.C. – Today, the Biden-Harris Administration announced its plan to forgive up to $20,000 for Pell Grant recipients and $10,000 for all in federal student loans and extend a pause to payment until January 2023. Latino Victory Project President and CEO Nathalie Rayes issued the following statement:
“President Biden’s decision to provide student loan debt relief is a necessary economic lifeline for millions of Americans, especially Latinos who are among the most impacted by student loan debt. It’s often said that education is the ‘great equalizer’ that opens the door for Latino economic mobility and generational wealth, but it’s not truly an equalizer if Latinos graduate from college burdened with decades of debt. Latinos should have the opportunity to have an affordable college education and begin their careers and live full, thriving lives without looking forward to decades of student loan debt.
“Latino Victory Project applauds the Biden-Harris Administration for taking this critical step to deliver on a key campaign promise. It is a step in the right direction in the fight for equity for the Latino community.”