Groups Call On Biden to Extend Student Loan Pause

210 organizations have called on President Joe Biden to once again extend the student loan debt payments set to expire in May.

QUICK FACTS:
  • Over 200 groups have urged Biden to extend student loan payments and cancel student loan debt, for the sixth time in two years, The Hill reported.
  • Federal student loan payments are set to restart on May 1, 2022, however White House Chief of Staff, Ron Klain said last week that Biden is considering extending the pause once again.
  • “The president is going to look at what we should do on student debt before the pause expires, or he’ll extend the pause,” Klain said.
ACTIVISTS ON URGING BIDEN TO PAUSE STUDENT LOANS:

“Borrowers need immediate relief from the crushing burdens of massive student loan debt as the pandemic exacerbates financial strain for all Americans and throws existing racial disparities in wealth and educational attainment into especially stark relief.”

BACKGROUND:
  • The 210 organizations, directed by the Student Borrower Protection Center, insisted that payments should not resume until Biden fulfills the promises he made to students “to fix the broken student loan system and cancel a substantial amount of federal student debt.”  
  • “The student loan payment pause has been one of the most important investments the federal government has made in Americans’ financial lives in a generation,” the group wrote in a letter to the president.
  • Not only are they calling on Biden to extend the pause in payments, but the advocates are also urging him to cancel a substantial amount of loan debt altogether.