Council adopts file urging cancellation of student debt
During yesterday’s meeting of the Common Council (Tuesday, July 27), the Council moved adoption of file #210405 – a resolution urging the federal government to cancel federal student debt, and directing the Department of Administration – Intergovernmental Relations Division to lobby for this policy. The file was introduced by Common Council President Cavalier Johnson and co-sponsored by Alderman Ashanti Hamilton, Alderman Russell W. Stamper, II and Alderwoman Chantia Lewis.
The total owed by student loan borrowers amounts to over $1.7 trillion with the average student loan payment being $393 a month, almost 20% of the typical American’s monthly household income. Borrowers with outstanding education debt typically hold between $20,000 and $24,999. Black students, on average, owe $7,400 more than their white peers. Milwaukee now joins fellow cities such as Boston, Washington D.C., Philadelphia, and others that have urged the federal government to cancel student debt.
Mentioned in This Press Release
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