National Urban League : Supreme Court's Student Loan Decision Will Exacerbate Racial Inequality

National Urban League President Marc H. Morial issued the following statement in response to the Supreme Court's decision on student loan relief:

“In striking down President Biden’s student loan relief plan, the Supreme Court has delivered a second devastating blow in as many days to the movement for racial justice and set the stage for further destabilization of the nation’s economy.

“The Court’s decision in Biden v. Nebraska is, incredibly, even more nakedly political than their decisions to strike down affirmative action. President Biden’s plan not only is overwhelmingly favored by the American people, it would invigorate the national economy. That’s a political problem for the President’s adversaries, but not a constitutional one. Furthermore, one of the justices who voted with the majority accepted lavish gifts from the chairman of a group that asked the court to block the plan.

“Crushing student loan debt is a key driver of the racial wealth and opportunity gap. It has created a vicious cycle that forces the most vulnerable students to take on disproportionate financial risk to pursue a higher education, only to find themselves even further behind.

“History will remember this week as a low point for the nation’s highest court. The National Urban League will continue to seek justice for Americans who are trapped by our nation’s unjust system of financing higher education.”

CONGRESSIONAL BLACK CAUCUS ISSUES STATEMENT ON STUDENT LOAN DEBT CRISIS

Congressional Black Caucus Chairwoman Joyce Beatty and members of the Congressional Black Caucus issued the following statement on the call for student loan debt cancellation:

"The $1.7 trillion student loan debt crisis is a racial and economic justice issue disproportionately impacting Black communities across the nation. We are calling on the Biden Administration to implement broad-based student loan debt cancellation by executive action. We are committed to working with the Administration to explore all options and we are requesting to meet with the President,” said Congressional Black Caucus Chairwoman Joyce Beatty. “This is a crisis created through policy decisions, and we have a responsibility to address it head-on. Canceling student loan debt is one of the most impactful ways to address ongoing economic and racial inequities plaguing our nation. As representatives of more than 17 million Black Americans and 80 million Americans, the urgency of this moment requires we move with intention. In order to reduce the racial wealth gap and advance a just and equitable economic recovery for all, we must alleviate the burden of student debt. Nothing is off the table, except inaction.”

NAACP wants President Biden to cancel student loan debt

The Biden administration is planning to extend a pause on federal student loan repayments through August 31, according to an administration official familiar with the matter.

Wisdom Cole, National Director of the NAACP Youth and College Division, released the following statement in response to President Biden's student loan repayment extension.

"President Biden, student loan debt is a racial and economic justice issue that stains the Soul of America. With each and every repayment extension, you make a stronger case for canceling it.

At this point, just cancel it. $50,000 is the bare minimum. $10,000 is not enough."