Debt Collective Cancels $10M of Morehouse College Student Loans
The recently announced that it had at Morehouse College, a historically Black university in Atlanta. After buying up the debts for $125,000, the organization then forgave that debt. Debt collection agencies are for pennies on the dollar.
Black borrowers are impacted by student debt, both in terms of need and the ability to pay off loans. President Joe Biden made student debt forgiveness a major campaign promise but the U.S. Supreme Court earlier this year after Republican lawmakers filed a lawsuit against it.
Dr. Richelle Brooks, an organizer with the , and the founder of ReThink It, an organization dedicated to providing resources to mitigate the harm of systemic racism, spoke with 猫咪社区! Racial Justice Editor Sonali Kolhatkar on 猫咪社区 Presents: Rising Up With Sonali about the Morehouse College debt cancelation and how it can be replicated on a wider scale.
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