Five NAACP youth leaders have shed their debt weight after award-winning musician Pharrell Williams paid off their student debt. According to The Hill, the Happy singer made the surprising announcement during an NAACP event in Washington, D.C. The panel was about Black student debt plight.
In a press release, the organization’s director of youth and college, Wisdom Cole, said the musician’s generosity is a manifestation of how student debt holders could breathe a sigh of relief if President Biden implemented that initiative across the country. Pharrell was in D.C. over the Juneteenth weekend to host his Something in the Water festival.
“Pharrell forever changed their lives. This was a powerful moment,” Cole, who organized the panel, said. “Now just imagine if President Biden made this a reality for all student debt holders in America. Student debt continues to disproportionately plague the Black community and crush opportunities for so many Black people. It is time to reduce the racial wealth gap, it is time for President Biden to fulfill his promise.”
The 49-year-old’s gesture comes in the wake of Biden exploring the possibility of introducing a federal student loan forgiveness action. Sources reportedly said Biden could announce that action in July or August.
There have been calls for the president to also look into clearing off student loans amounting to $50,000. But the president in April said he won’t be considering that – though he announced there will be additional debt forgiveness, Complex reported.
“I am not considering $50,000 debt reduction,” Biden said. “But I’m in the process of taking a hard look at whether or not there are going to—there will be additional debt forgiveness, and I’ll have an answer on that in the next couple of weeks.”