Skip to content Skip to footer

Let’s End the Shame of Student Debt While Calling for Its Cancellation

To reduce income inequality, we need to reject “debt shaming” and insist on cancellation of student debt.

Student loan borrowers gather near The White House to tell President Biden to cancel student debt on May 12, 2022, in Washington, D.C.

When I ran for mayor of Buffalo, New York, last year, my past-due parking tickets became a major reason for reduced favorability among voters. When Stacy Abrams ran for governor of Georgia in 2018, there was a lot of talk in the mainstream media about how much debt she was in. I share these examples because in general, the working poor do not willfully withhold payment for debts. We are faced with the very real decision between paying often illegitimate debts (like parking tickets and student loans) and feeding our children or paying for life-saving medical treatment for our loved ones.

New York State’s recently passed $220 billion budget has me thinking about the broad acceptance of the idea that the wealthy are best equipped to make the decisions that are supposed to benefit the public at large. The state decided that it was a wise decision to give $650 million to the billionaire owners of the Buffalo Bills while turning a blind eye to the crumbling infrastructure, lack of decent housing, and struggling education system in cities like Buffalo. We have now reached the stage of capitalism where corporate-dominated governments are more willing to invest public dollars into entertainment than in the public good.

Last month, I attended a “debtors assembly” in Washington, D.C., hosted by The Debt Collective. It was the first time I publicly acknowledged how much student debt I carry — along with millions of other people. I am not alone and I have no reason to be ashamed. Not only was it liberating, but it got me thinking: what would municipal, state, and even federal budgets look like if we elect people who have had to decide between medication and student loan payments? Furthermore, what kind of talented and compassionate people would run for office if not forced into the shadows under the stigma and shame of medical, consumer or student debt?

As we look to 2022 midterm elections, voters are questioning the failure of a Democratic majority in Congress to deliver voting rights, the Build Back Better bill, and cancelation of student debt. The single and most simple thing President Biden can do to help save the Democratic majority this midterm, while stimulating the economy, is cancel student debt; and he should do it without delay. In sharp contrast to other highly industrialized countries where higher education is inexpensive or free, approximately 45 million people in our country owe a total of $1.7 trillion in student debt.

We now have the crucial challenge of changing the narrative about who carries the burden of debt, who deserves personal agency, and who deserves decision-making capacity. That is why I am excited to continue to participate in vital coalition work as a member of the RootsAction team. (For more information on our #withoutstudentdebt campaign, visit withoutstudentdebt.us.)

The hardships imposed on working people have become even more harsh and inhumane in recent years, while vast wealth has been funneled into the pockets of a very few. As crucial steps to reduce income inequality, we need to reject “debt shaming” and insist on cancelation of student debt.

We’re not backing down in the face of Trump’s threats.

As Donald Trump is inaugurated a second time, independent media organizations are faced with urgent mandates: Tell the truth more loudly than ever before. Do that work even as our standard modes of distribution (such as social media platforms) are being manipulated and curtailed by forces of fascist repression and ruthless capitalism. Do that work even as journalism and journalists face targeted attacks, including from the government itself. And do that work in community, never forgetting that we’re not shouting into a faceless void – we’re reaching out to real people amid a life-threatening political climate.

Our task is formidable, and it requires us to ground ourselves in our principles, remind ourselves of our utility, dig in and commit.

As a dizzying number of corporate news organizations – either through need or greed – rush to implement new ways to further monetize their content, and others acquiesce to Trump’s wishes, now is a time for movement media-makers to double down on community-first models.

At Truthout, we are reaffirming our commitments on this front: We won’t run ads or have a paywall because we believe that everyone should have access to information, and that access should exist without barriers and free of distractions from craven corporate interests. We recognize the implications for democracy when information-seekers click a link only to find the article trapped behind a paywall or buried on a page with dozens of invasive ads. The laws of capitalism dictate an unending increase in monetization, and much of the media simply follows those laws. Truthout and many of our peers are dedicating ourselves to following other paths – a commitment which feels vital in a moment when corporations are evermore overtly embedded in government.

Over 80 percent of Truthout‘s funding comes from small individual donations from our community of readers, and the remaining 20 percent comes from a handful of social justice-oriented foundations. Over a third of our total budget is supported by recurring monthly donors, many of whom give because they want to help us keep Truthout barrier-free for everyone.

You can help by giving today. Whether you can make a small monthly donation or a larger gift, Truthout only works with your support.