Higher education should be a right for every child
Dear neighbor,
Last week, President Joe Biden announced his plan to address our nation's crushing student debt crisis by canceling up to $10,000 of student loan debt for millions of Americans and up to $20,000 of debt for low- and middle-income student borrowers who received Pell Grants.
As someone who has long fought for student debt cancelation, tuition-free community college options, and increased access and affordability to higher education, I see last week’s announcement as a critical first step towards the relief we need. But we’ve got a lot more to do. Education, from Headstart and pre-school to college and graduate school, should be a right for every child in America, not a privilege for the wealthy few.
Student loan debt is an anchor on the futures of generations of Americans. It affects families of every socioeconomic background, but it has outsized impacts on low-income families and borrowers of color, especially here in Illinois where we have the 7th highest student loan debt in the nation, standing at $61.6 billion for 1.6 million borrowers. That’s why I’m relieved to see that this relief package targets its support to working and middle-class families who might now have the opportunity to buy a home or start a business, that they didn’t have before.
In addition to canceling student debt for those who make less than $125,000, this loan relief package creates several new and more affordable repayment options. If you’re on an income-based-repayment plan you’ll now only be required to make payments at 5% of your monthly income, instead of 10%. No borrower who makes less than 225% of the federal poverty limit will have to make a monthly payment (that’s about the equivalent of making $15 an hour). And if you have a loan balance under $12,000, it’ll be forgiven after 10 years if you make minimum payments.
You can learn more about whether you'll qualify for these relief programs at studentaid.gov. And as always, if you have questions you can reach my office at will@repguzzardi.com.
Thanks, be well, and stay safe —
— Will
COFFEE WITH WILL
Join me on Saturday, September 10th for a Coffee and Conversation at Sip of Hope from 10am-12pm.
Come discuss your community concerns and hear updates from the Illinois Legislature on mental health care.
📅 Saturday, September 10th
⏰ 10am - 12pm
📍Sip of Hope, 3039 W Fullerton Ave
RECEIVE $50 BY GETTING VAXXED AT HOME
Through August 30, any Chicagoan age 5 and up is eligible to receive a $50 gift card to get their COVID-19 booster shot at home via the City’s At Home Vaccination Program. Incentives will be provided while supplies last.
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MONKEYPOX VACCINE
The Chicago Department of Public Health announced last week that the city will receive an additional 20,000 doses of MPV (monkeypox) vaccine from the Strategic National Stockpile and will distribute them to clinics across Chicago over the next week.
CDPH has also expanded vaccine eligibility to include any sexually active bisexual, gay, and transgender persons including men who have sex with men.