Student debt is keeping American students and families from getting ahead, from buying homes, starting families, and actually having a chance to experience the promise of the American Dream we were sold upon entering college.

• Amber Sherman is a millennial Memphian and nationally known political strategist.

So many promises were made when President Biden was pandering to young Black and brown voters, and since his election we’re still waiting for those promises to be fulfilled.

During the elections, a poll conducted by Public Policy Polling of registered voters aged 18-35, asked millennials what policies would be most likely to motivate them to get out and vote for a candidate. Three of the top five policies they chose had to do with student debt and higher education.

Millennials wanted their elected officials to address the rising costs of college, throw a lifeline to borrowers struggling with debt, and address an economy that continues to leave many young Americans behind. Now a year later these are still our biggest concerns.

Student loan debt is crushing

As young people, student loans have continued to cripple us and our livelihood. The student debt burden surpasses both credit card and auto debt in this country, and is the only type of debt that has increased since the Great Recession.

Student debt originated due to state disinvestment of higher education. In the 1970’s state governments supplied public colleges with nearly 75% of their funding, according to data from the Federal Reserve Bank of Cleveland.

In 1990, state per student funding was almost 140% more than that of the federal government. Over the past payday loans in Richmond Hill NY no bank account 30 years, all but two states have pulled money out of their public higher education system. This disinvestment has passed the costs onto students, making higher education a burden for us. Lees verder →