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A group of 180 national and state organizations urged President Biden to extend the student loan payment pause, which is set to expire in just under two months on Aug. 31, in a letter sent June 30.
The payment pause, which was first enacted in March 2020 and has since been extended multiple times, has kept millions of federal student loan borrowers from making payments on their loans during the pandemic. Biden has stated that he plans on canceling at least some student debt, however, he has yet to unveil a final proposal.
Biden is expected to cancel at least $10,000 in student debt per borrower, capped at individuals making under $150,000, by late summer. The administration has not yet hinted at whether there will be another extension to the payment pause, but many organizations in favor of debt forgiveness argue that forgiveness must come before repayment begins in August if the pause is not extended.
“Our organizations urge you to enact robust student debt cancellation that is not means tested and does not require an opt-in for participation and to fully implement this policy before any student loan bill comes due,” said the letter.
The letter continued, “Our organizations enthusiastically support broad cancellation of student debt because it would provide desperately needed relief for millions of people and, in the process, strengthen the economy and our nation. We also understand that at a time of extremely high inflation, when even the necessities are becoming out of reach for many families, student debt relief would ease the financial pressure that so many Americans are feeling.”
