Growing Threats and Harms From the Rightwing Judiciary

Floor Speech

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Mrs. CHERFILUS-McCORMICK. Mr. Speaker, thank you for allowing us to address the floor this evening, and thank you to the Congressional Progressive Caucus for holding this Special Order hour.

I rise today on behalf of the millions of Americans whose student loan debt balances are at risk of escalating due to the rightwing reactionary judiciary.

Hundreds of borrowers from across the country gathered in front of the Supreme Court on February 28 to express their discontentment. West Palm Beach resident Kayla shared: I think President Biden's loan forgiveness plan is a good thing for college students who don't have funds to pay for college. Indeed, this is a good thing.

One important aspect of the debt relief program is that it addresses the unequal burden that student debt has placed on borrowers of color.

Mr. Speaker, 40.2 percent of White undergraduate students use student loan debt to pay for their school, while 50 percent of Black students use student loan debt. In addition, approximately 72 percent of Latinx students take on debt.

By providing up to $20,000 in debt relief to borrowers that received a Pell Grant, President Biden's plan would allow one in four Black borrowers to see their debt fully eliminated, and nearly half of all Latinx borrowers to be entirely debt free.

This is so important because Black and Brown college graduates owe an average of $25,000 more in student loan debt than their White counterparts.

Furthermore, Black bachelor's degree holders have an average of $52,000 in student loan debt. Over 50 percent of Black student borrowers report that their net worth is less than they owe in student loan debt.

The disparity between the amount owed by Black and White borrowers quadruples 12 years after graduation. Four years after earning their degrees, 48 percent of Black students owe an average of 12.5 percent more than what they borrowed. After that same time period, 83 percent of White students owe 12 percent less than what they borrowed.

In addition, women hold nearly two-thirds of outstanding debt in this country. Black women carry the highest student loan debt burden of any race or ethnicity.

We must address the unequal burden that student loan debt has had on borrowers of color. I ask the majority of the Supreme Court to turn against the right-wing, reactionary agenda and to deliver for the 40 million people in June.

We rely on our education systems. Education and higher education is one of the pivotal equitable points that we have in this country. We must protect it for everyone.

The destiny of our country is dependent on everyone being able to matriculate through school, pursue their education, and give back to this country that we love so much.

Mr. Speaker, I thank the gentlewoman for holding this Special Order hour. To the Congressional Progressive Black Caucus, and the anchor, the gentlewoman from Pennsylvania (Ms. Lee), it is an honor to be here this evening to speak on behalf of the student loan borrowers. But it is also a special honor to be here tonight with my Howard University alumna.

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