For Immediate Release:
June 30, 2023
Contact:
Rachel Noerdlinger, rnoerdlinger@actumllc.com
Emma Brodsky, ebrodsky@actumllc.com
FPWA CEO JENNIFER JONES AUTIN CONDEMNS U.S. SUPREME COURT RULING REVERSING STUDENT DEBT RELIEF FOR MILLIONS OF AMERICANS
New York, NY (June 30, 2023) — FPWA CEO Jennifer Jones Austin issued the following statement today in response to the Supreme Court’s decision to overturn President Biden’s student debt relief program. FPWA’s latest analysis demonstrates the lack of civil rights progress since the 1963 March on Washington, which includes an increased racial gap in difficulty paying off student debt.
“As an organization dedicated to fighting poverty and supporting individuals with low incomes, FPWA condemns the Supreme Court’s decision to strike down student debt relief for millions of Americans.
The overturn of President Biden’s student loan debt forgiveness program will not be felt equally because the burden of student loan debt is not shouldered equally. Our latest analysis shows that Black college graduates owe an average $25,000 more in debt because even with identical degrees, they make far less per year than their white peers. Lower earning power contributes to longer times to pay off student debt, and delayed purchasing power for known generational wealth-building mechanisms like homeownership.
FPWA remains committed to shedding the light on the racial and economic inequity embedded in this issue and pushing forward policy solutions that uplift Americans struggling with financial security.”
About FPWA
FPWA is an anti-poverty policy and advocacy organization committed to advancing economic opportunity, justice, and upward mobility for New Yorkers with low incomes. Since 1922, FPWA has driven groundbreaking policy reforms to better serve those in need. We work to dismantle the systemic barriers that impede economic security and well-being, and strengthen the capacity of human services agencies and faith organizations so New Yorkers with lower incomes can thrive and live with dignity.
Find out more at fpwa.org, Facebook, Twitter, and Instagram.
###
