Muslim-American organizations are joining forces to call on President Biden to use his executive powers to not only forgive a significant amount of student loan debt, but also to establish interest-free loans for all Americans.
Earlier this month, a coalition of over fifty groups, including the Council for American Islamic Relations (CAIR), signed a letter asking the President to bypass congressional approval on the matter and use his authority to put the reforms in place.
The full letter and fact sheet can be accessed here.
Every year, tens of thousands of students pursuing college or graduate school are forced to choose between their faith and their education because Islam doesn’t condone interest-based debt.
Anyone with student loans in the United States knows very well firsthand how predatory lenders can be under the guise of helping one to achieve their educational goals.
According to the CAIR website, Americans collectively owe nearly $1.6 trillion in outstanding student loan debt — a number that is projected to grow to $3 trillion by 2038.
In a statement, CAIR National Deputy Director Edward Ahmed Mitchell said:
“We join widespread calls for President Biden to take bold action to address the student loan debt crisis. Interest-based debt is a major burden on the American economy and the American people, trapping students in cascading debt that – in many circumstances – becomes impractical to pay back.
“In addition to extending the moratorium on repayment and canceling a significant amount of existing debt, President Biden should use his executive authority to establish principal-only loans in order to ensure that future students can pursue higher education without incurring burdensome debt or violating their religious values.”
Don’t forget to write, call, or tweet to your local representatives and let them know student loan debt needs to go!