Reverend Jesse Jackson and Bishop Tavis Grant call for action on Student Loan Debts Relief. “Expose the exploitation”
Reverend Jesse Jackson and Bishop Tavis Grant call for action on Student Loan Debts Relief.
“Expose the exploitation”
Chicago IL- Total student loan debt in the U.S. fell to $1.57 trillion in the third quarter of 2022 from $1.59 trillion in the second quarter. That’s the largest decline in at least 20 years, according to data from the New York Federal Reserve’s Household Debt and Credit Report.
Reverend Jesse Jackson said, that’s a small drop and much more must be done.
President Joe Biden has made student loan relief a priority throughout his time in office, particularly for those who were defrauded, are disabled, or who should qualify through an existing forgiveness program but have been unable to due to bureaucratic mismanagement.
Currently, the administration says it has forgiven nearly $48 billion for over 1.8 million borrowers.
Jackson believes that the banks that have benefited from servicing these loans must be exposed as well as the collection agencies that are terrorizing these families.
“It’s been our mission at the Rainbow PUSH Coalition to address the eradication of student loan debt relief through the work of Reverend Jackson.”
Families have seen the stagnation wage of growth, corporate profits continue to rise, as well as the cost of living that has held communities hostage as we recover from Covid.
Immediate relief must be comprehensive and intentional in affording these families the opportunity to rebuild their financial capacity.
Bishop Tavis Grant will be leading a national campaign to mobilize 100,000 individuals and families to address the banks and lenders who have pillaged these communities. “This campaign will expose the exploitation of the profiteers of this economy catastrophe that have made millions in fees and professional services on these loans. We must make them accountable, says Grant.
Reverend Jackson and Bishop Tavis Grant will be serving several hundred bags of food to at risk and in-housed persons at this Saturday December 3rd at 10AM at the Rainbow Push Coalition 930 East 50th Street