ENOUGH TO RESUME PAYMENTS
TO DISCUSS AND TALIA ABRAMS WHO
IS THE PRESIDENT OF THE STUDENT
DEBT CRISIS CENTER TO TELL YOU
THANKS FOR TAKING THE TIME HERE
WITH
US TODAY WITH LEFT FOR FIRST
AND FOREMOST GET YOUR REACTION
TO THE EXTENSION AND ON FEDERAL
STUDENT
♪
LOAN PAYMENTS.
>> ALL RIGHT SO THAT THE IT
COULDN'T HAVE.
>> COME SOON ENOUGH YOU KNOW
IT'S
THE HOLIDAYS AND WE KNOW THAT
OUR WORDS HAVE BEEN STRUGGLING
AS YOU SAID I OR WHAT WE SHOT
WAS 89% OFFICIALLY UNEMPLOYED
BORROWERS WE'RE NOT GOING TO BE
READY TO MAKE PAYMENTS TO
BREWERIES FIRST SO THIS IS A
WELCOME IMPROVEMENT. THE
EXTENSION RIGHT NOW IS UNTIL
MAY FIRST SO THAT ONLY BUYS US
90 DAYS TO CONTINUE
THE FIGHT AND GET IT EXTENDED
FURTHER AND CANCEL STUDENT
DEBT.
>> ORGANIZATION ALONG WITH
200 OTHERS ARE PUSHING FOR THE
CANCELLATION OF STUDENT THAT
WHILE THE DEPARTMENT OF
EDUCATION AND LAWMAKERS HAVE
DISCUSSED FOR GIVING UP TO
$10,000 IN LOANS
FOR BORROWERS WHAT DO YOU SEE
AS THE OBSTACLES IN GETTING
THIS DONE.
>> ALL RIGHT SO YOU KNOW THAT.
200 HAS RISEN TO ALMOST 500
ORGANIZATIONS NOW SUPPORTING
DEBT CANCELLATION OF ARMED WITH
MORE THAN 80 MEN. CONGRESS.
WE SEE OBSTACLES WITH THE
WHITE HOUSE WE YOU KNOW SO
THAT'S WHY I THINK THIS IS SUCH
A WELCOME SURPRISE THAT IF WE
CAN START TO MOVE.
PRESIDENT BIDEN IN THE RIGHT
DIRECTION, BUT THEY CAN SEE THE
NEED. FIRST STUDENT
DEBT CANCELLATION SO WE NEED TO
MOVE THE WHITE HOUSE MORE AND
MORE LAWMAKERS BUT I'VE BEEN
WORKING IN THIS SPACE FOR MORE
THAN A
DECADE NOW AND THE ENERGY ABOUT
CANCELLATION HAS NEVER BEEN
THIS LIKE IT'S A WORD YOU
EXPECT MORE OF THAT ENERGY TO
POP UP FROM AND TO ADD TO THE
CASE FOR STUDENT DEBT
CANCELLATION.
>> I THINK WE JUST STARTED THIS
PAST WEEK FOR THE STUDENT THAT
CAUSED BY MAKERS THAT I NEVER
WOULD HAVE EXPECTED TO THROW
INTO THE RING
REALLY UNDERSTANDING HOW MUCH
BORROWERS ARE SUFFERING, WE
KNOW THAT STUDENT CANCELING
STUDENT DEBT IS ONE OF THE
NUMBER ONE THINGS THAT
LAWMAKERS CAN DO
TO HELP EASE THE RACIAL
EQUITY CUPS, IT WILL NOT
COMPLETELY TAKEN AWAY BUT THE
MORE DEBT YOU CANCEL THE MORE
THAT YOU COPE. BLACK AND
BROWN AMERICANS.
>> THE NAACP PRESIDENT DERRICK
JOHNSON HAD TWEETED OUT IF YOU
CAN AFFORD TO PAUSE STUDENT
LOAN PAYMENTS OVER AND
OVER AGAIN. YOU CAN AFFORD
TO CANCEL IT HOW CAN FORGIVING
STUDENT LOAN DEBT, IMPACTS THE
RACIAL WEALTH GAP AS WELL.
>> SO WE KNOW THAT THE
AVERAGE BLOCK FOR A AFTER 12
YEARS AT TO THEIR WHITE
COUNTERPARTS BUT OWES MORE
USUALLY THAN THEY BORROWED WHEN
WE SEE THEIR WHITE COUNTERPARTS
KICKING IT OFF IN 10 YEARS OR
BUST. WE ALSO
KNOW THAT YOU KNOW FOR
YOUR PIE COUNTERPARTS YOU NEED
A BACHELOR'S TO GET A DECENT
JOB WE SEE THAT SO MANY PEOPLE
OF COLOR NEED TO GET GRADUATE
DEGREES IN ORDER TO MAKE THE
SAME SALARIES AS THOSE WHO ARE
JUST HAVE A HIGH SCHOOL DEGREE
OR BACHELOR'S DEGREE SO SO
MANY PEOPLE WELL IT AND ALL
AMERICANS TAKEN OUT AND AND
GODLY AMOUNT OF STUDENT LOAN
DEBT TO THE TUNE OF ONE
0.7 TRILLION DOLLARS. THERE
JOHNSON. ABSOLUTELY RIGHT IF
YOU CAN CANCEL OR PAS TO THAT
YOU CAN CANCEL IT BECAUSE IT'S
THE
SAME MECHANISM. IT'S JUST A
MECHANISM OF SETTLEMENTS IN
COMPROMISING THE AUTHORITY THAT
THE DEPARTMENT OF EDUCATION AND
THE PRESIDENT HAS WHICH IS TO
WAIT AND CARS AND CANCEL
STUDENT DEBT PAID.
>> ADDITIONALLY THE TIME THAT
WE FIND OURSELVES IN RIGHT NOW
OUTBREAKS OF
COVID-19 I MADE THE HIRE
TRANSMISSIBLE OMICRON VARIANT
ARE ADDING TO CONCERNS ABOUT
THE ECONOMY AND BORROWERS
ABILITY TO RESUME
THEIR PAYMENTS COULD WE SEE THE
MORATORIUM BEING EXTENDED EVEN
AS WELL.
>> WELL I SHE SAID THAT THIS I
COMPLETELY AGREE THIS
WAS A MOVABLE POSITION FROM THE
WHITE HOUSE JUST A WEEK AGO
THAT THEY WERE NOT GOING TO
POSTPONE
THE PAST AND WE SEE WE SAW THEM
CHANGE THE SOUTHERN WEST.
SO WE HAVE A WHITE HOUSE THAT
IS WILLING
TO LISTEN. IT'S NOW OUR JOBS
AND ADVOCATES LAWMAKERS AND
THOSE 45 MILLION PEOPLE IS TO
NOT GET TO MAKE OUR VOICES AS
LOUD
AS POSSIBLE BECAUSE WE DO HAVE
THE YEAR RIGHT NOW OF
THE PRES.
>> WHAT WHAT CAN BE DONE IS AS
WELL TO
MINIMIZE IT AND MINIMIZE THE
OVERALL STUDENT LOAN DEBT
CRISIS IN THE U.S..
>> SO FOR SOMEONE TO SAY
CANCELING STUDENT DEBT
HAS BECOME IT WILL HELP THE
OVERALL CRISIS EVEN IF WE WERE
TO CANCEL $50,000 FOR
EVERY MARRIAGE AND WE WOULD
CONTRACT THE OVERALL STUDENT
LOAN PORTFOLIO WHICH IS WAY TOO
BIG TO MANAGE RIGHT. IT'S
BECOME THIS TOO BIG TO FAIL
ENTITY THAT IS HARMING
AMERICANS. WE FIRST NEED TO
CONTRACT IT. MAKE IT SMALLER
AND WE NEED TO WORK ON
STRENGTHENING PUBLIC SERVICE
LOAN FORGIVENESS WHICH IS A
PROGRAM FOR PUBLIC
SERVICE WORKERS TO FORGIVE
THEIR DEBT AFTER 10 YEARS WE
NEED TO MAKE REPAYMENT PROGRAMS
MUCH BETTER AND WE'RE GENEROUS
FOR BORROWERS INSTEAD OF A 20
OR
25 YEAR TRACK THAT OFTEN FAR
WORSE FOR A LOT OF THEIR MANY
MECHANISMS TO FIX THE STUDENT
DEBT CRISIS, BUT THE BIGGEST
ONE IS CANCELING
STUDENT DEBT.
>> WHAT CAN PRIVATE LENDERS DO
AS PART OF THIS CRISIS AS WELL.
>> SO IT'S A VERY GOOD POINT
THAT PRIVATE LOANS ARE NOT
INCLUDED IN THIS GAME AND PIES
AND THEY HAVE NOT BEEN INCLUDED
WITH
COVID RELEASED. AND SO WE NEED
TO SEE PRIVATE LENDERS MAKING
IT MUCH EASIER FOR BORROWERS TO
ENTER INTO
THE PAYMENT TAKING THEIR
INTEREST RATE RATES DOWN THIS
IS WHERE WE SEE INTEREST RATES
GOING. 9 1215% FOR
STUDENT FIREWORKS MAKING
MECHANISMS TO GET OUT OF THE
FOLD AND WE PAY
MUCH HERE. YOU KNOW I DON'T
THINK THERE SHOULD BE PRIVATE
LENDERS
IN THIS. SPACE HOWEVER WITH THE
COST OF COLLEGE BEING SO
EXPENSIVE MANY BORROWERS HAVE
TO KICK UP PRIVATE LOANS ALONG
WITH
FEDERAL LOANS. SO THAT LEADS TO
WE HAVE TO DO SOMETHING ABOUT
THE COST OF COLLEGE SO FAR
WORSE DON'T GET INTO THIS MESS
AGAIN. OK
AND YOU.
>> BASICALLY GET RIGHT INTO MY
NEXT QUESTION FOR ME ROUTE OF
THIS RIGHT WHICH IS YOU KNOW
THE COST OF COLLEGE AND NOW
THAT THIS GUY ROCKETED AND SO
WITH THAT IN MIND WHERE ARE WE
GOING TO SEE FURTHER EFFORTS TO
TACKLE THE ROOT THE PROBLEM IN
THE COST OF COLLEGE AND
HOW HIGH AND OUT OF CONTROL
THAT HAS GOT.
>> SO WE'VE SENATOR SANDERS AND
MANY OTHERS INJURED DEUCE 3
COLLEGE THAT FREE
COLLEGE MEASURES. WE KNOW THAT
WE FOUGHT VERY HARD TO HAVE AT
LEAST FREE COMMUNITY COLLEGE
AND BUILD BACK BETTER BUT THAT
WAS TAKEN OUT WE NEED TO
EVENTUALLY MAKE COLLEGE FREE IN
THIS LIKE IT IS AND MANY OTHER
WESTERN COUNTRIES AND THEN WE
WILL NOT BE IN THIS
POSITION AGAIN.
>> JUST 2 MORE QUESTIONS HERE
BEFORE WE LET YOU GO WHAT IS
YOUR ADVICE FOR BORROWERS WITH
LOAN PAYMENTS DUE TO RESUME IN
MAY.
>> YES, SO IF PAYMENTS HAPPENED
TO BE TURNED
ON IT MAY WE KNOW WE WORK WITH
2 MILLION VIRUS NATIONWIDE AND
A LOT OF THEM ARE VERY NERVOUS,
THEY WERE NERVOUS
ABOUT FEBRUARY. THEIR RB
PAYMENTS OPTIONS, BUT IF YOU
ARE MAKING $0 YOU CAN CHOOSE TO
BE PAY $0 AND STAY IN GOOD
STANDING THERE BASED ON YOUR
INCOME VERSUS YOURS OVERALL
VOTE HIM OUT.
THERE'S ALSO A PROGRAM CALLED
PUBLIC SERVICE LOAN FORGIVENESS
THAT IS FOR PUBLIC SERVICE
WORKERS THAT WORK IN A GOVERNOR
BUT STATE OR C
3 NON-PROFIT THAT CAN HAVE
THEIR DEBT CANCELED AFTER 10
PLEASE CONTACT US THERE'S OTHER
GREAT ORGANIZATIONS WORKING TO
HELP YOU
REPAY THEM. BUT RIGHT NOW WE
WANT TO USE ALL THE ENERGY
HE PROLONGING THE SPAS AND TO
CANCEL US AND FOR FUTURE
GRADUATING CLASSES, WHAT IS
YOUR HOPE.
>> WHERE UPON GRADUATING
RECEIVING THEIR DIPLOMA WALKING
ACROSS THE STAGE.
YOU KNOW NOT WALKING OUT
HOPEFULLY WITH AS MUCH DEBT AS
WE'VE SEEN SETTLED UPON
PREVIOUS GRADUATES OVER THE
MOST RECENT A DECADE AND A HALF
2 DECADES, EVEN.
>> I GRADUATED COLLEGE IN 2009
IT WAS ONE OF THE FIRST CLASSES
AND OUR GRADUATION CAPS, IT
SAID HIGHER. WE WERE TERRIFIED
AT FIRST STUDENT DEBT
THAT HAD BEEN GROWING AND
FINDING JOBS. SO YOU KNOW FOR
THAT GRADUATE IF THEY COULD
WALK OUT. A GRADUATE AND NOT
HAVE TO WORRY ABOUT THAT THAT
PAVEMENT NOT HAVE TO TAKE A JOB
BASED ON HOW MUCH THEY'RE GOING
TO GO TO THE FEDERAL GOVERNMENT
I THINK THAT THAT WOULD PROVIDE
HOPE FOR ALL OF US AND HOPE FOR
THOSE
WITH GRADUATE.
>> AND JUST LASTLY BECAUSE I
THINK THAT ALSO PROMPTS ANOTHER
QUESTION IN TERMS OF THE NUMBER
OF STUDENTS LOOKING FOR JOBS
AND ONE OF THE
INCENTIVES THAT THEY OF THE
CORPORATE ENTITIES AND
WORKPLACES WOULD BE
ASKING IS IS IT AN APPEALING TO
YOU. WE OFFERED TO PAY OFF SOME
OF YOUR
STUDENT DEBT. DO YOU SEE MORE
CORPORATIONS AND MOVING BACK
TOWARDS SOME OF THOSE
INCENTIVES AND KIND OF
REVITALIZING CALLS. FOR THOSE
INCENTIVES FOR THEIR EMPLOYEES
TO BE ABLE TO BE BENEFICIAR
ISN'T.
>> I DO SEE THAT WE'RE SEEING
MORE EMPLOYERS DO THAT. NOW
HOWEVER JUST LIKE HEALTH CARE
WE NEED TO STOP PRESSING SO
MUCH INTO OUR JOB
RIGHT WHERE WE'RE DEPENDENT ON
OUR HEALTH CARE WITH
INDEPENDENT OTHER STATEMENTS
THAT ARE PLAYER HAS SO MUCH
POWER OVER US. THIS IS WHY WE
NEED TO TAKE CARE OF IT AT THE
POLICY LEVEL OR AT THE FEDERAL
GOVERNMENT LEVEL SO WE DON'T
HAVEN'T PLAYERS HAVE SO MUCH
POWE