Debt Collective Cancels $10 M of Morehouse College Student Loans
FEATURING DR. RICHELLE BROOKS - The Debt Collective, a debtors union, recently announced that it had canceled $10 million of student loans at Morehouse College, a historically Black university in Atlanta. After buying up the debts for a mere $125,000, the organization then forgave that debt. Debt collection agencies are allowed to buy bundled debts for pennies on the dollar.
Black borrowers are disproportionately impacted by student debt, both in terms of need and the ability to pay off loans. President Joe Biden made student debt forgiveness a major campaign promise but the U.S. Supreme Court earlier this year blocked his plan after Republican lawmakers filed a lawsuit against it.
This post is for subscribers only
Subscribe now for free to watch the video of this interview (You can upgrade later to a paid membership to unlock exclusive content).
Sign up now
Already have an account? Sign in
You’ve successfully subscribed to Rising Up With Sonali
Welcome back! You’ve successfully signed in.
Great! You’ve successfully signed up.
Success! Your email is updated.
Your link has expired
Success! Check your email for magic link to sign-in.