What Comes Next After Student Debt Relief?
September 12, 2022
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15:35Now PlayingWhat Comes Next After Student Debt Relief?
YouTube Description
as posted by the channelCancelling some small fraction of student debt is obviously a good and necessary thing to directly help millions of debtors across the country, but is it enough? We speak with Braxton Brewington, the Press Secretary for and organizer at The Debt Collective, about how to build on the momentum and opportunity created by the historic yet limited debt cancellation by President Biden.
The United States is a country whose people are deeply in debt, and it’s honestly not their fault. The number one cause for bankruptcy in the United States is still medical debt (!) an unheard of concept in most of the rest of the world. According to analysts, 100 million American adults have health-care debt, with 12% of them owing $10,000 or more. Even credit card debt, which many people assume is from buying too much avocado toast, is usually just medical debt (again!) but hidden in another column on a banker’s spreadsheet.
Whatever happens, Biden might think that the issue of debt cancellation is now permanently off the table, but just the opposite might well be true. Only a few years ago, the idea that federal student loan payments could be paused, or that any of the debt is even possible to discharge was believed to be buffoonery. (See John Oliver’s Last Week Tonight segment back in 2014). Today, it’s not only possible, but people expected it. It’s time to keep expecting stuff.
Braxton Brewington is the Press Secretary and an organizer at The Debt Collective, the nation’s first debtors’ union. Follow Braxton on Twitter
Aida Rodriguez is a comedian, actress, writer and activist. She has shows in DC, LA and San Jose this fall and her TV special Fighting Words is out NOW on HBOMax. Follow Aida on Twitter
Recorded September 6th, 2022
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