On Wednesday, the White House announced its long-awaited debt cancellation plan. Joe Biden will erase $10,000 for borrowers who make under $125,000 a year, and $20,000 for Pell Grant recipients. The federal student loan payment moratorium will also be extended until December 31.

Sadly, this news does almost nothing for me and millions of others. It falls far short of what economic and racial justice demands. That’s why I have joined over 250 people, all over age 50, who are pledging to strike our student loans when payments resume. Our numbers are growing every day.

Most people think of the student loan crisis as a problem affecting young people. As a 65-year-old woman, however, I am actually among the fastest-growing demographic of student debtors. We know that this debt won’t go away – for us or Americans of any age – unless we stand up and fight it. That’s why we’re prepared to strike.

I have over $300,000 in student debt. The burden is negatively affecting my emotional and physical existence. You may wonder how it is possible to accumulate such a large amount of student debt, so let me explain.

As a single, Black, immigrant woman, I always told my four kids that education was the most important part of their upbringing. But it didn’t take me long to realize that I was hardly following my own advice: I was not comfortable advising my children to achieve the highest level of education when I myself didn’t. I am a mentor, educator and adviser to my kids. I wanted my mentorship and advice to be built on a strong educational and intellectual foundation.

In January 2010 I began a doctoral degree program in human resources management. My biggest mistake was enrolling in a for-profit school. I did achieve my academic goals in August 2016. That feeling of success was short-lived, however. After graduation, I had to begin repaying student loans.

My school didn’t play fairly with me while I pursued my doctoral degree. The administrators changed the length of my program from three to six years. They actively steered me away from my research interest in the effects of slavery and globalization, adding more time to my program of study. Meanwhile, I continued to pay. From an initial loan payoff of $75,000 per year, my debt rose to $300,000.

Then my children started college. Because of my own debt, I was unable to qualify for parent loans to help my younger two children pay for their undergraduate studies. I was also unable to plan for the future. I exhausted my retirement funds trying to repay these loans and have not been able to replenish them because, as a good citizen, I prioritized repaying my student loans above all else.

My debt is an economic drain but it’s also an emotional one. I have been stressing over it for 12 years now, and the stress has taken a very real toll on my physical health. I suffer from hypertension and high cholesterol and recently had emergency surgery to remove my gall bladder due to digestive issues caused by unnecessary stress. I spend a lot of time thinking about the fact that I am 65 years old, with projected loan repayments for the next 21 years of my life – meaning I will be 86 when I pay them off. When you are burdened by student debt, there is no quality of personal or work life. You are stuck at home – foregoing vacations, visiting family and friends, professional conferences, everything.

Like so many debtors, I’ve found it hard to see a way out. As an older person, I’ve often felt particularly alone as a student debtor. When I learned of the Debt Collective, the nation’s first debtors’ union, I realized I was not alone. I found others with similar stories and experiences, including many other older people. As a group, we understand that we’re stronger together. And we are taking action. If Biden won’t cancel our debt, we will go on strike.

I joined the 50-over-50 debt strike to make sure that the world knows that older debtors exist, and that we are growing in number. Because student loans are structured as a debt trap, there are more and more older debtors every day. My fellow strikers and I can’t pay – and won’t. We shouldn’t have to take money from our retirement to pay for college. I accumulated this massive student debt because of the inhumane policies of lending institutions and for-profit schools, and the lack of support and intervention from government agencies. Biden has the power to cancel student debt for all of us, automatically and immediately. Why isn’t he using it?

I am pleading with Joe Biden: please make things right – by cancelling all student debt.