Student Loan Forgiveness: Top Lawmakers Urge Biden To Cancel ‘Meaningful’ Amount Of Debt And Extend Payment Pause As Polls Show Support
Headline from Forbes
With millions of borrowers on track to resume repayment on their student loans in just over 30 days, top lawmakers in Congress wrote to President Biden urging him to extend the payment pause to the end of the year and enact broad student loan forgiveness.
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Some private student lenders say that the federal student loan payment freeze is hurting their bottom line, and are urging President Biden's administration not to extend it once again.
One in eight Americans had outstanding student loans totaling $1.75 trillion as of the fourth quarter, according to the Federal Reserve Bank of St. Louis.
Joe Biden has canceled more student loan debt than any other President, delivering relief to 700,000-plus borrowers. But some voters feel misled by Biden, who had supported canceling $10,000 for each of the 43 million federal student loan borrowers while on the campaign trail.
Lawmakers are continually pressuring President Biden to cancel student loan debt. Whether it’s the $10,000 per federal borrower he promised on the campaign trail or a more aggressive $50,000 per bo…
With millions of borrowers on track to resume repayment on their student loans in just over 30 days, top lawmakers in Congress wrote to President Biden urging him to extend the payment pause to the end of the year and enact broad student loan forgiveness.
