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PRINTER'S NO. 480
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE RESOLUTION
No.
48
Session of
2021
INTRODUCED BY MUTH, L. WILLIAMS, CAPPELLETTI, SAVAL, KANE,
KEARNEY, COSTA AND STREET, MARCH 22, 2021
REFERRED TO EDUCATION, MARCH 22, 2021
A RESOLUTION
Urging Congress to enact broad, comprehensive student loan debt
forgiveness.
WHEREAS, Student loan debt in the United States totals $1.68
trillion and grows more than six times faster than the nation's
economy; and
WHEREAS, The 42.3 million Americans with Federal student loan
debt owe an average of $36,520 each; and
WHEREAS, Crippling student loan debt and uncertain job
opportunities preclude college graduates from home ownership,
starting businesses and pursuing careers of their choosing; and
WHEREAS, Student loan debt, like many other manifestations of
inequality, disproportionately harms communities of color and
creates insurmountable systemic barriers that make it impossible
to catch up, let alone to get ahead in life; and
WHEREAS, Student loan debt forgiveness could narrow the
racial wealth gap for young families and be a major relief for
African-American borrowers who are disproportionately affected
by the burden of student loan debt; and
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WHEREAS, The Federal Government should ensure equity of debt
forgiveness by creating pathways for both federally owned loans
and loans originating from commercial financial institutions to
be able to offer forgiveness to those who have student loan
debt; and
WHEREAS, Prior to the onset of the COVID-19 pandemic, the
United States was experiencing unprecedented levels of income
inequality caused by stagnant wages and rising costs of living;
and
WHEREAS, Given the exacerbation of the socioeconomic burden
brought on by the COVID-19 pandemic, it is vital that the
government find ways to eliminate obstacles to financial
stability and self-sufficiency, and granting student loan
forgiveness would be one step toward advancing that goal; and
WHEREAS, The provision of financial relief for borrowers
would help create an economic stimulus; therefore be it
RESOLVED, That the Senate urge Congress to enact broad,
comprehensive student loan debt forgiveness.
20210SR0048PN0480 - 2 -
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