Atlanta Dream announces partnership to eliminate debt for thousands of residents

Thousands of people in Atlanta will have their debt forgiven this week as part of a program by the Atlanta Dream to invest in the community.

The Atlanta Dream got their name from Dr Martin Luther King Jr’s “I Have A Dream” speech, which took place during the March on Washington DC 62 years ago on Aug. 28.

This year the WNBA team is honoring the 62nd anniversary of that speech by partnering with Cash App and debt relief nonprofit ForgiveCo to eliminate debt for 3,500 Atlantans.

Morgan Shaw Parker is president of the team. She said they chose to host a girls’ basketball clinic at Atlanta’s C.T Martin Recreation Center to celebrate the announcement.

“This is in one of the zip codes where many of the individuals that will have that debt relieved are receiving those letters starting tomorrow,” she said. “So some of the children of those families are able to participate here.”

Areas were chosen for debt relief based on a study of zip codes with the highest debt-to-income ratio. Neighborhoods receiving those letters notifying them their debt has been relieved include Sweet Auburn, where King was born.

Shaw Parker said that debt relief is only the beginning of their mission to bring economic empowerment to the community.

“You can’t just relieve debt and expect that that might not happen again,” she said “So we’re looking forward to partnering with others and Cash App as well to really figure out what is the financial literacy piece of it? What is the wealth management piece of that? And then how does that lead to long-term generational wealth?”

Letters will go out to families who had their debt eliminated this week. The financial support will eliminate debt in amounts ranging from $500 to $80,000 dollars.

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