In a letter to President Biden, the SBPC and over 125 organizations representing millions of students, workers, people of color, veterans, people with disabilities, and people of faith, call on the Administration to extend the pause on student loan payments scheduled to resume for millions of borrowers on October 1, 2021. Lacking significant progress on the Administration’s promises to reform the broken student loan system and deliver promised debt relief, advocates warn of the dangers of a hasty return to repayment for borrowers.
The letter highlights how the payment pause has enabled millions of borrowers and their families to have the financial resources to make ends meet each month and weather the economic crisis caused by COVID-19. With the companies responsible for managing the transition to repayment and the system itself having repeatedly proven unable to avoid widespread failures, the Department of Education must undertake significant structural reforms, provide real, immediate relief, and cancel a significant amount of federal student debt.
Read the Letter: Coalition Letter to President Biden on Keeping Payment Pause in Place
Read the Press Release: Advocates Call on Biden to Fix the Broken Student Loan System Before Restarting Student Loan Payments