WHAT:
Student debt in the U.S. has now reached $ 1.5 trillion and is currently the second biggest source of debt in the country. In 2017, 65% of students graduating from college had taken out loans, graduating with an average debt of $ 28,650 . In this country alone, 44.7 million people are living with student debt.
This is no small matter. Student debt can prevent people from getting a mortgage on a house, starting a family, saving for retirement, leaving a stable yet unfulfilling job to find a position in their field of study, leaving a job to live with their loved ones in another city – the list goes on. Just the thought, and fear, of accumulating debt prevents many from pursuing higher education, affecting their chances at social mobility. And this fear is quite justified. Student loan delinquency or default rates are 11.4 %, with black college graduates defaulting at rates five times higher than those of their white classmates. Defaulting on a loan can have serious consequences. It can prevent an individual from getting an apartment or a job and take away a section of someone’s paycheck, tax refunds, or Social Security payments. Some states even cancel professional licenses for individuals who hold student loan debt.
This is why student, community, and labor organizers will be hosting a student debt town hall on October 9th, 7pm-8:30pm in Davis, CA to discuss our communities’ experiences with student debt, as well as existing legislative and political solutions like the Student Debt Cancellation Act , proposed by Rep. Ilhan Omar, Rep. Pramila Jayapal, and Sen. Bernie Sanders.










