Student Debt Crisis: Will it be Cancelled?

Joe Biden’s presidency will be marked by broken promises and a lack of initiative, chief among them his refusal to cancel widespread student debt.

Student Debt Crisis: Will it be Cancelled?

Zach Steward, Politics/Op-ed Editor

Joe Biden will never cancel student debt. Why? While some say it’s because he can’t, that he has to go through Congress to do so, I say otherwise. He could easily cancel them with the stroke of a pen via executive order. He campaigned on making higher education debt-free, yet for the majority of Americans, he has failed. Yes, he has cancelled debt for those that were victims of for-profit institutions and some for those with disabilities, but why not do it for everyone, all at once? This is because he knows that student loans disproportionately affect Black and Brown people, and whether he knows it or not, he doesn’t want them to succeed. For white supremacy, capitalism, racial capitalism, imperialism, settler-colonialism, and the other factors that have put white people on top to remain in place, marginalized communities need to remain at the bottom in every way. Countless studies have talked about the benefits of cancelling student debt, in particular for Black and Brown communities. The racial wealth gap would be shortened significantly, and it would allow these communities to begin to enjoy life, to do so without survival as the thing driving them. 


Without the burden of student debt, things such as generational wealth, better access to education, housing, and other things routinely denied to them would open up and give them a chance to do more. If the President truly cares about ending racial inequality and ensuring that Black and Brown people are given access to the same things as their white counterparts, he needs to cancel student debt and not stop there. The Voting Rights Act, the Civil Rights Act, and other pieces of legislation need to be reinforced so they can’t be torn down. Something has to change, because the way things are going currently, they will get a whole lot worse. As long as he refuses to do something, the wealth gap will continue to widen, and there will be nothing to stop it. The student debt crisis can be easily solved, there just has to be a willingness to do so. Without it, Joe Biden becomes the latest in a long line of presidents that have failed Black and Brown people. In the words of Kanye West, “George Bush hates Black people”.

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