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Loan Forgiveness

Calling on the incoming Biden administration to address student loan debt

APA joined a coalition of organizations urging the future Biden administration to forgive a portion of debt for all student loan borrowers.

Cite this
Polishchuk, K. (2020, December 7). Calling on the incoming Biden administration to address student loan debt.

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APA joined a group of more than 230 organizations in a letter to the Biden transition team (PDF, 107KB) calling on the incoming administration to take executive action to cancel at least a portion of student loan debt held by all borrowers. This will help alleviate the debt burden carried by many psychology doctoral students and trainees, as well as working psychologists at all stages of their careers. During the campaign, President-elect Biden pledged to broadly forgive at least $10,000 worth of student loan debt. This would serve as an economic stimulus in response to COVID-19, as well as help close gaps in racial wealth equity. Students of color, including those getting their degrees in psychology, tend to carry disproportionately higher student debt amounts.

These actions align with many of APA’s priorities regarding the accessibility and affordability of graduate psychology education. APA continues to advocate for maintaining and strengthening the Public Service Loan Forgiveness program (PDF, 128KB)—which a future Biden Administration has also vowed to protect—and for legislation extending student loan forgiveness to front-line health workers (PDF, 282KB), both providing care and conducting COVID-related research during the pandemic.

For more information, contact Kenneth Polishchuk.