Student debt in the U.S. has now reached $ 1.5 trillion and is currently the second biggest source of debt in the country. In 2017, 65% of students graduating from college had taken out loans, graduating with an average debt of $ 28,650 . In this country alone, 44.7 million people are living with student debt.
This is no small matter. Student debt can prevent people from getting a mortgage on a house, starting a family, saving for retirement, leaving a stable yet unfulfilling job to find a position in their field of study, leaving a job to live with their loved ones in another city – the list goes on. Just the thought, and fear, of accumulating debt prevents many from pursuing higher education, affecting their chances at social mobility. And this fear is quite justified. Student loan delinquency or default rates are 11.4 %, with black college graduates defaulting at rates five times higher than those of their white classmates. Defaulting on a loan can have serious consequences. It can prevent an individual from getting an apartment or a job and take away a section of someone’s paycheck, tax refunds, or Social Security payments. Some states even cancel professional licenses for individuals who hold student loan debt.
This is why student, community, and labor organizers will be hosting a student debt town hall on October 9th, 7pm-8:30pm in Davis, CA to discuss our communities’ experiences with student debt, as well as existing legislative and political solutions like the Student Debt Cancellation Act , proposed by Rep. Ilhan Omar, Rep. Pramila Jayapal, and Sen. Bernie Sanders.
This event will be hosted by the Davis section of the UC Coalition for Student Debt Cancellation.
● Shreya Deshpande, Vice-president of the Associated Students, UC Davis (ASUCD)
● Morganne Blais-McPherson, UCD graduate student, head steward of UAW 2865 (union representing teaching assistants, readers, and tutors, and graduate student instructors across UC), member at-large of the National Coordinating Committee of Young Democratic Socialists of America (YDSA)
● Thomas Gokey, Debt Collective
● Katie Rodger, president of UC-AFT Local 2023 Davis (union representing librarians and non-Senate faculty across UC)
● Dillan Horton (Support Facilitator with Progressive Employment Concepts, candidate for Davis City Council)
with student debt testimonials from
● Courtney Pollard (UCD graduate student, head steward of UAW 2865)
● David Moore (UCD undergraduate student, US Air Force veteran, treasurer of YDSA at UC Davis)
● Cassie Allard (UCD undergraduate student in Neurobiology, Physiology and Behavior, member of Alpha Delta Pi sorority)
Wednesday, Oct 9, 7:00pm-8:30pm
UC Davis Art Annex Room 107, Davis, CA
About the coalition: California for Student Debt Cancellation is a new coalition of student, community, and labor organizers based across UC campuses organizing their classrooms, workplaces, housing units, and communities around student debt cancellation.
You can contact them via their Facebook Page at @cali4studentdebtcancellation.