PHOENIX – Student loan forgiveness could eliminate college debt for thousands of Black and Latino borrowers in Arizona.
According to the U.S. Department of Education, more than 800,000 Arizonans have federal student loan debt. By canceling it, advocates say, Black and Latino incomes could increase and help reduce the racial wealth gap.
The forgiveness plan, which President Joe Biden announced in August and now is stalled in federal court, is targeted toward students like Terriana Dennis of Phoenix, a Black alumna of the University of Arizona. Dennis, who works as a fraud, waste and abuse agent for the medical transportation company Veyo, said she has $15,000 in student loans.
“The student loan program will benefit people of color and low-income families in a significant way,” Dennis said.