The Democracy Group Cancel Student Debt: Braxton Brewington | Future Hindsight
Braxton Brewington is the Press Secretary of the Debt Collective. We discuss the origins of the Debt Collective in the Rolling Jubilee and its history in canceling student debt. Their example is a powerful model for canceling student debt, which continues to be important for all Americans in this election cycle and beyond.
Education is a public good, yet the cost of college over the past couple of decades has risen eight times faster than the average wages. The average student debt is $30,000-$35,000. Two thirds of student debt is owed by women, and a large number of student loan borrowers don't have a college degree. This means that they are paying down student debt on non-college degree wages. The Debt Collective started out as the Rolling Jubilee, which canceled tens of millions of dollars of debt and gave instant relief to borrowers. Canceling student debt creates millions of jobs, boosts the economy, and advances racial and gender justice. Although the Biden administration has canceled billions in student debt, it is only making a small dent in over $1.7 trillion worth of student loans.
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