Democrats urge Biden to continue pause of student loan payments

“The scheduled resumption of student loan payments in October could create a significant drag on our economic recovery.”

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Over 60 Democrats on Capitol Hill sent a letter to President Biden yesterday urging him to extend a coronavirus-era pause on federal student loans by at least six more months. 

They are hoping the Biden administration will take action before the September 30 deadline when it is initially set to expire. 

The effort is led by Sen. Elizabeth Warren of Massachusetts; Senate Majority Leader Chuck Schumer of New York; and Reps. Ayanna Pressley of Massachusetts and Joe Courtney of Connecticut, reports NBC News

“Borrowers have reaped significant benefits from the ongoing payment pause, taking the opportunity to pay down other debt, relieve financial pressures from lost jobs or decreased earnings, and support their families’ needs. The scheduled resumption of student loan payments in October could create a significant drag on our economic recovery,” wrote the members of the letter. 

Activists, advocates, and lawmakers have been pushing for the Biden administration to cancel $50,000 in student debt per borrower for months now. 

Warren is one of those lawmakers fighting for the cancellation of student debt. According to HuffPost, she also recently placed a hold on the nomination of James Kvaal, Biden’s pick for the third-highest ranking job at the Department of Education in hopes of forcing reforms to how the department manages student loans.

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