- The average annual pay for a Childcare worker in New Jersey is $19,886 a year, or approximately $9.56 an hour. Meanwhile it can cost anywhere from about $9,000 to $20,000 or more per academic year to obtain a bachelor’s degree in early childhood education.
- With women holding 2/3 of all student debt, the student debt crisis is a gender justice issue.
- The student debt crisis is a racial justice issue. Black borrowers pay significantly more for the same degrees than white borrowers.
- Black women are hit the hardest because they hold the highest levels of student debt while earning $0.61 for every $1.00 a white man is paid. This extends the amount of time it takes for Black women to pay off their student debt and increases the total amount of interest that is paid.
NJ Communities United is part of a national movement calling on President Biden to cancel $50,000 in federal student debt for all student loan borrowers. By canceling this debt, the President can dramatically change the lives of working-class families trapped by the pressures and consequences of student debt. Eliminating student debt for everyone would boost the economy by approximately $100 billion a year for at least 10 years, yielding lower unemployment rates, increased spending, and more.
In addition, Congress must pass the College for All Act of 2021 introduced by Senator Bernie Sanders and Representative Pramila Jayapal on April 21, 2021. This legislation would make college accessible to working-class families and prevent another student debt crisis from emerging again in the future. Among other items, this visionary legislation would provide tuition-free community colleges for all students and tuition-free public four-year colleges and universities for students in families who earn less than $125,000 a year.
MATERIALS & RESOURCES
Childcare Workers & Student Debt One-Pager
Speaking Out: Childcare Workers on Student Debt
Video: New Jersey Student Debt Rally on March 3, 2021
Video: Student Loan Debt Press Conference, April 12, 2021 hosted by Senator Menendez and Representative Pascrell featuring NJ Communities United
"How nearly 900,000 NJ student loan borrowers could benefit from Biden stimulus package" March 22, 2021, NorthJersey.com/USA Today,
The Philadelphia Student Debt Resolution (model language for municipal action)
The College for All Act of 2021
The Debt Collective: a national ally in the movement to end the student debt crisis