Majority Leader Schumer Floor Remarks On How The Biden Administration’s Newly Announced Student Debt Plan Will Help Remedy The Disproportionate Impact Of The Student Debt Crisis On Communities Of Color

Washington, D.C. –  Senate Majority Leader Chuck Schumer (D-NY) today spoke on the Senate floor on the announcement of President Biden’s new plans to cancel student debt for 30 million Americans, combatting the student debt crisis that disproportionally affects communities of color. Below are Senator Schumer’s remarks, which can also be viewed here:

This week, President Biden announced a new executive action to relieve the burden of student debt for another 30 million Americans. 30 million Americans – a little less than one out of ten of our population. When you count their families and spouses, it's even more.

The President’s new student debt plan is great news for everyone – particularly for borrowers in communities of color, who are disproportionately impacted by the student debt crisis.

For too long – far too long – the burden of student debt has held borrowers of color back from reaching the middle class and beyond. President Biden’s plan will deliver much-needed relief for these borrowers and many more, and give them the chance of achieving the American Dream.

Democrats will continue to do everything in our power to lower costs and make college more affordable for everybody.

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