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December 22, 2021

Pressley, Warren, Schumer Applaud Extension of Student Loan Payment Pause, Continue Calls for Biden to Cancel Student Debt

WASHINGTON, DC – Today, Congresswoman Ayanna Pressley (MA-07), Senator Elizabeth Warren (D-MA) and Senate Majority Leader Chuck Schumer (D-NY) issued the following statement applauding the Biden Administration’s extension of the student loan payment pause and reiterated their calls for him to cancel $50,000 in federal student debt by executive action. 

“We’re pleased the Biden administration has heeded our call to extend the pause on student loan payments. As we stated in our December 8th letter, the pause on federal student loan payments, interest, and collections has improved borrowers’ economic security, allowing them to invest in their families, save for emergencies, and pay down other debt. Extending the pause will help millions of Americans make ends meet, especially as we overcome the Omicron variant. We continue to call on President Biden to take executive action to cancel $50,000 in student debt, which will help close the racial wealth gap for borrowers and accelerate our economic recovery.” 

Pressley, Warren and Schumer have consistently called on President Biden to cancel student debt. Earlier this year, they led their colleagues in reintroducing their bicameral resolution outlining a bold plan for President Biden to tackle the student loan debt crisis by using existing authority under the Higher Education Act to cancel $50,000 in student loan debt for Federal student loan borrowers. 

In July, Rep. Pressley, Sen. Warren and Majority Leader Schumer led their colleagues on a bicameral letter to President Biden calling on him to extend the pause on federal student loan payments until at least March 31, 2022, and applauded his decision in August to extend the payment pause through January. 

 

 

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