Biden Urged to Extend Freeze on Loan Payments

The Democratic chairs of the Senate and House education committees urged President Biden to extend the freeze on student loan payments, which currently is expected to end in May.

U.S. Senator Patty Murray of Washington State, chair of the Senate Health, Education, Labor, and Pensions Committee, said, “That’s why I’m pleased to see signs the Biden administration is considering extending the student loan payment pause, and why I am calling on them to do so until at least 2023 and work to permanently fix our student loan system … by [g]iving struggling borrowers a fresh start, by placing borrowers who were in default before the pause back into good standing and ensuring they have their negative credit histories cleared without losing the ability to rehabilitate their loans.”

And Representative Bobby Scott of Virginia, chair of the House Committee on Education and Labor, said, “I am urging the Biden-Harris administration to extend relief for student loan borrowers through the end of this year. Throughout the pandemic, the pause on student loan payments has been critical to helping borrowers and families cope with the economic fallout of the pandemic. Unfortunately, many Americans are struggling to make ends meet as a result of worldwide inflation and ongoing global supply chain issues. By extending relief for student loan borrowers, the Biden-Harris administration would strengthen our economic recovery and provide student loan borrowers more time to prepare for loan repayment. This would also help struggling student loan borrowers and families get back on their feet.”

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