Many Black borrowers owe more than $10,000.

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President Joe Biden's speech from North Carolina A&T State University is expected to address rising prices at a time when Black students disproportionately saddled by debt are among the most adversely affected by the inflation crisis.


President Biden's extension of a moratorium on federal student loan debt payments falls short of demands to cancel it altogether as the racial wealth gap continues to widen. Studies show that Black students are affected the most by student debt.

Proponents of student debt cancelation applaud the Biden Administration's extension of the pause on student loan payments but want the president to take action and cancel the debt.

The review comes as progressive lawmakers and various constituent groups call for the president to forgive up to $50,000 of student loan debt.