A postsecondary degree remains one of the most reliable pathways to economic mobility, yet the rising cost of college has made that pathway increasingly difficult to access. For many students, financial aid falls far short of covering the full cost of attendance, forcing them to rely on loans that carry long-term financial consequences. The burden falls hardest on low-income students and students of color, who face greater barriers to access and steeper challenges repaying what they borrow.
Student debt doesn’t just affect borrowers in the short term—it shapes major life decisions for years. Households carrying student debt accumulate wealth more slowly, face compounding financial pressures, and are less able to invest in their futures. For student parents, particularly mothers and Black student parents, the challenges are even more acute. Without equitable access to affordable postsecondary education, the promise of upward mobility remains out of reach for those who need it most.
Featured Policy Solutions
Provide two years of tuition-free postsecondary education, especially for students who come from low-income families.
Policymakers should pursue proposals to make two years of community college free for all students, create federal-state partnerships to fund community college or other postsecondary institutions, and provide free access to postsecondary education for students from households with incomes below a certain threshold. Access to at least some postsecondary education free of charge is a critical step toward promoting equity in access to higher education, as well as creating pathways to better jobs for more students.
Address the student loan crisis by providing ongoing relief for existing borrowers.
This includes fully exploring, implementing, and expanding all pathways to debt cancellation within the Higher Education Act, particularly for individuals experiencing financial hardship and instability, as well as pursuing new legislation to expand options to offer debt relief to more borrowers. Policymakers should bolster the Public Service Loan Forgiveness (PSLF) program, which offers loan forgiveness to many public-sector employees, and implement improvements to ensure that all eligible workers can fully utilize it.
Expand funding and initiatives for students from historically marginalized backgrounds.
This includes increasing investments in minority-serving institutions such as historically black colleges and universities (HBCUs) and tribal colleges and universities (TCUs). Policymakers should also increase funding for programs for women and in women’s colleges, particularly initiatives that promote women’s advancement in the STEM fields and other male-dominated career paths.
