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Dear Neighbor,

I hope this email finds you and your family healthy and well. 

I’m writing today with an update about student loans. It is clear that we have a student loan debt crisis in this country. In New York alone, 2.4 million borrowers owe a total of $91.8 billion in federal student loans. I have heard from many in our district about the stress and instability that student debt imposes on their lives. Our next generation is putting off getting married, becoming homeowners, and starting families in part because of the insurmountable student debt they’ve had to try paying off.  This issue also disproportionately affects Black and Latinx families, and student loan cancellation could help meaningfully reduce the racial wealth gap. Since coming to Congress, I have been vocal about the need to cancel student debt. 

Without further federal action, the current pause on student loan payments is set to expire on January 31, 2022.  My office will be hosting a webinar on Student Loans on November 3, 2021 at 5:00pm, where you can hear from me and from experts from the Education Debt Consumer Assistance Program (EDCAP). EDCAP assists New Yorkers navigate the student loan system, regardless of the type of education debt, federal or private. I know that this change will be difficult for many constituents in our district, so while I continue to advocate for student debt cancellation, I also want to make sure everyone is equipped with the latest information and tips needed to navigate a potential return to repayment.. 

Some of the services EDCAP provides are: 

• Determining your best student loan repayment option;

• Accessing loan forgiveness, cancellation, and discharge programs;

• Applying for consolidation, deferment, and forbearance;

• Resolving issues with loan servicers and lenders;

• Getting out of default to prevent wage garnishments, social security offsets, and tax intercepts;

• Referring you to other services and resources to address additional needs.

All of these services are free and confidential.

Here are the details for the webinar on student loans with EDCAP: 

• What: Webinar on student loans

• When: November 3rd at 5PM EST

• How to register: Register for the event here.

It is clear that we need to cancel student debt, and I am committed to fighting for relief from a broken system that allows someone’s desire for an education to hinder their ability to make ends meet across generations. I will continue to be  a vocal advocate of cancelling student debt. In February, I cosponsored House Resolution 100, calling on President Biden to cancel up to $50,000 in federal student loan debt per person. I recently joined my colleagues in writing a letter to Secretary Cardona and President Biden urging them to publicly release the Department of Education’s internal memo on the President’s authority to forgive student debt. I would like to hear more about your experiences with student debt. 

Click here to share your story about how student debt has impacted you. 

Finally, I want to be sure that you are aware of some recent changes the Biden administration made to the Public Service Loan Forgiveness (PSLF) Program. If you are a public sector worker, you may be eligible for student loan forgiveness through this program even if you were previously denied or ineligible. This includes teachers, nurses, firefighters, and others who have served their communities for more than 10 years. In addition, members of the military are now able to get credit toward loan forgiveness while they serve. To see if you might be eligible and if there are actions you need to take, please visit this webpage. 

As always, if you have any questions or concerns, please do not hesitate to reach out to my office. 

Best,

Congressman Jamaal Bowman (NY-16)