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Apr 14, 2022 Aditi Ramaswami

CHEAT SHEET: The Truth About Student Debt

In this week’s Cheat Sheet, we cut through the noise and tell you what you need to know about the $1.75 trillion Americans owe on student loans.
CHEAT SHEET: The Truth About Student Debt
(AP Photo/Jacquelyn Martin)

Welcome to the Cheat Sheet, The Lever’s new weekly feature exclusively for our supporting subscribers that quickly gets you up to speed on a pressing news matter. Each week, we will show you exactly what you need to know — including vital information corporate media is trying to cheat you out of learning.

This week, we’re focused on student debt, a topic that sadly hits home for me and countless others who pursued an exorbitant college education and now daydream about financial freedom. President Joe Biden’s decision last week to sign off on a seventh repayment pause since the pandemic started has reignited the student loan cancellation debate, drawing out various opinions on the matter from all corners of the internet.

At the end of the day, there is one truth that matters: Biden has the authority to do more than just pause student loan repayment, yet he’s been reluctant to do so, despite the broad appeal and notable benefits of opting for a permanent cancellation and moving toward making public colleges and universities free.

Read all about it in this week’s Cheat Sheet, exclusively for supporting subscribers.

Takeaways Include:

  • Student loan cancellation is not regressive, despite what neolibs say.
  • Surprise! Life got better for people when payments were paused.
  • POTUS’ immense power to help borrowers, and why he should use it.
  • The man who launched the debt crisis.

If you’d like to read the full Cheat Sheet, please click here to become an $8-a-month or $70-a-year supporting subscriber. When you become a supporting subscriber, you get this kind of exclusive content, you get access to our live events, you get our Citizens' Guide To Holding The Powerful Accountable — and you are helping us hire more journalists.

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