For the first time in history, the American people have elected a President and Vice President States who committed to cancelling billions in student loan debt.

Americans outside of Washington get it.

They see their friends, family, and neighbors crushed by growing debt burdens, unable to afford their first home or start a small business. They know a senior whose Social Security check has been garnished by the federal government just to pay student loan interest. They know a mother struggling to make ends meet who never got a degree and now watches her debt load grow faster than she can keep up with.

And even if they don’t know one of our 43 million friends and neighbors buried under 1.5 trillion dollars in federal student loan debt, they understand the need to boost to our struggling economy. This is Econ 101: the best way to jumpstart our economy is to put more money in working families’ pockets — money they can spend in their communities.