It shouldn’t be a mystery that student debt is a top issue for young people — in Colorado alone, over 743,000 current and former students owe student debt. Despite the fact that the Biden administration ran on a campaign of student debt cancellation, we have yet to see significant support for students in need. This is in spite of the fact that studies show that debt cancellation is one of the best tools the federal government has to provide reparations and bridge the racial wealth gap, as student debt is disproportionately carried on the backs of Black borrowers and borrowers of color. With racial and economic justice consistently named as another clear priority for young people, the demand to reform these systems is greater now more than ever.
A bill offering more oversight of student loan providers passed in the Colorado legislature last week with only two days left in the 2019 session.
A new study of government data shows, “Colorado borrowers owe more than $26 billion in student debt,” according to a new study by Student Borrower Protection Center (SBPC).