WHEREAS:
More than 43 million Americans carry over $1.75 trillion in federal student loan debt, a staggering total that exceeds outstanding credit card debt; and
WHEREAS:
Millions of borrowers are saddled with crushing student debt burdens that they were encouraged to take on with the promise that higher education was the path to career and financial security, only to find those promises unfulfilled; and
WHEREAS:
Public service workers often forgo career opportunities with higher earning potential in order to directly serve their communities; and
WHEREAS:
The Public Service Loan Forgiveness (PSLF) program was created by the federal government to reward individuals who choose careers serving the public in government and the nonprofit sector by forgiving the balance on student loans remaining after borrowers make 120 payments at income-based levels; and
WHEREAS:
Despite its promise, PSLF has for years disappointed hundreds of thousands of borrowers with improper denials of benefits, oftentimes after years of being told their cases were in compliance; and
WHEREAS:
The U.S. Department of Education announced a temporary PSLF waiver that allowed borrowers to receive credit for past payments that may have been disqualified for technical reasons and has extended the pandemic-related student loan repayment moratorium to Aug. 31, 2022; and
WHEREAS:
The extended federal pause on student loan repayment and interest accumulation has given millions of American families, including public service workers, much-needed financial breathing room during a once-in-a-generation crisis.
THEREFORE BE IT RESOLVED:
AFSCME supports the extension of the student loan repayment moratorium and other affirmative steps to resolve issues with the Public Service Loan Forgiveness program; and
BE IT FURTHER RESOLVED:
AFSCME supports cancellation of federal student loan debt in order to relieve the onerous burden on borrowers; and
BE IT FURTHER RESOLVED:
AFSCME will continue to support federal and state efforts to provide meaningful flexibility and affordable options for loan repayment, including more effective implementation of the Public Service Loan Forgiveness program; and
BE IT FINALLY RESOLVED:
AFSCME remains committed to the right of all individuals to pursue a college education without the crushing burden of debt.
SUBMITTED BY:
Kathryn Lybarger, President and Delegate
AFSCME Local 3299
California