Student Debt: The $1.6 Trillion Question

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Student Debt: The $1.6 Trillion Question

 
POSTED ON Mar 31, 2021
 

Recently the Congressional Hispanic Caucus Institute (CHCI) hosted the “Hacking the Student Debt Crisis” seminar as part of its Diálogos Series.  The virtual event focused on what it would take to cancel student debt, policy solutions being contemplated, how Congress and the Biden Administration are approaching student debt, and potential ways to reduce the burden on Latino/a/x borrowers.

According to the nonprofit organization dedicated to developing the next generation of Latino leaders, student debt reached over $1.6 trillion in 2020. CHCI also said that the negative implications on Latinos’ financial futures – particularly in light of the current global pandemic – will be significant and long-lasting.

The speakers at the virtual event included CHCI alumna Cheye-Ann Corona (right). She dedicated the past 10 years of her career advocating for reforms that provide economic and social mobility for communities of color. Prior to joining the Center for Responsible Lending, she served as a senior legislative assistant to a senior member of the House Financial Services Committee. She was also a graduate housing fellow with the CHCI with placements at the Department of Housing and Urban Development and the U.S. House Financial Services Committee.

Tanya Menendez (center) is co-founder and CEO of Snowball Wealth, a platform that provides a free student loan plan and helps users save an average of $6K. Snowball Wealth’s mission is to empower people to make financial progress and the platform also provides free resources on debt, saving, and investing. Before Snowball, Menendez co-founded Maker’s Row, an online marketplace used by over 200K businesses. Before becoming an entrepreneur, she worked at Goldman Sachs and Google. Menendez has been included in Forbes’ 30 Under 30 List and named one of People en Español’s “Most Powerful Latinas” and PopMechanic’s “25 Makers Reinventing the American Dream”.

Marissa Muñoz is a director of the Young Invincibles, where she is leading policy advocacy efforts to increase opportunities for young adults. Prior to this role, Marissa served as the senior director of education policy at the Hispanic Federation, advancing New York City and State policies that support the achievement of Latinos in both P-12 and higher education. Marissa has worked to increase programs and policies that support postsecondary success through her work at the College Board and the New York City Department of Education.

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