I know you know this but: a lot is at stake in this election, and it’s not just the White House. The people we elect—from the top of the ballot to the bottom —can impact your daily life and finances. The people we elect make the rules impacting your student debt! So get out there and vote early.
Since 1 in 3 young adults have student debt, we need to make sure we are consciously voting for officials who will protect US, not lenders, servicers, debt collectors, and for-profit institutions.
Obviously, the presidential election is in focus right now. But we want to bring your attention to the fact that the office of the president could use its executive authority to actually cancel student debt for struggling Americans.
Here’s how that works. You know that the president appoints the secretary of education, but did you know that the secretary has power to do everything from regulating the student debt industry to canceling student debt? The presidentially appointed head of the Department of Education can also create and shore up protections for borrowers against predatory lenders and for-profit colleges.
The current appointee, Sec. Betsy DeVos, has instead worked against borrowers’ interests at every turn. We need OUR secretary of education to work FOR, not against borrowers.
In addition to all that power held by the executive branch, your members of Congress can pass legislation that would cancel debt, and make college debt-free for future students. We need advocates for this kind of legislation in both the House and Senate!
Finally, your state legislators can make their own state-level rules and regulations to rein in private lenders and servicers like Nelnet, Navient, and more. This makes real change: think about those harassing calls you get, the amount of time you spend trying to sort out an issue with your loans, or the ways they profit off you (the borrower) simply trying to pay off your education.
So make sure you’re registered, mask up, go vote early in-person if you’re able, and bring friends to the polls. The election is happening RIGHT NOW and it’s over in about a month.
Now from the top [of the ballot], make [those votes] drop—because We Are Powerful! 😉 Vote to #CancelStudentDebt!