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Democrats in Congress urge Biden to extend pause on student loans
WASHINGTON?— More than 100 congressional Democrats are urging the White House to extend the pause on student loan repayments past the Aug. 31 deadline.a thursday letter to President Joe Biden and Education Secretary Miguel Cardona, U.S. Senate and House Democrats argue that due to inflation and an ongoing coronavirus pandemic, student borrowers should get an extension of the suspension of their loan repayments. “This much-needed break has helped many borrowers keep a roof over their heads, get childcare, and buy food, healthcare, and medicine during a pandemic that is causing… the deaths of over a million people in the United States,” they wrote.“For the first time, many borrowers have had the ability to pay down debt, open a savings account, buy a home and save for retirement, none of this would have been possible without the payment break. »They didn’t give any deadline to start refunds in their letter to the president. The pandemic is still ongoing and the United States has exceeded one million COVID deaths. “Despite significant declines over the past month, gasoline prices are still high and many borrowers still have to pay exorbitant sums every week to get to work,” the lawmakers wrote. Foodstuffs remain high as suppliers grapple with supply chain issues and the war in Ukraine.”The lawmakers in their letter, led by Senator Bob Menéndez of New Jersey and Senate Majority Leader Chuck Schumer of New York, also argued that “[l]Low-income borrowers, black and brown borrowers, and women borrowers continue to face severe financial hardship as COVID-19 continues to infect individuals across the country and exacerbate existing inequalities. » They added that if the Biden administration resumes student loan repayments, it would create confusion for some borrowers who are awaiting a decision from the Department of Education on public service loan forgiveness. waiver, which “forgiven the remaining balance on your direct loans after making 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer.” “Currently, many borrowers are in limbo as they await upcoming actions from the D department or their Federal Student Loan Officer – either through the Public Service Loan Forgiveness (PSLF) , or through the one-time account adjustments Ed announced on April 19, 2022 that would account for past forbearance or deferment periods,” the lawmakers wrote. In a press exchange with reporters, the president said on June 21 that he would make a decision at the end of August on extending the pause on student loans. The Biden administration in April decided to extend the break in reimbursements until the end of August. At the start of the pandemic, in March 2020, the Trump administration declared an emergency pause on student loan repayments, which has now been repeatedly extended by both administrations. But lawmakers pushed Biden to forgive student loan debt of up to $50,000 through an executive order, arguing he has the ability to do so because the Department of Education owns approximately 92% of that student loan debt.Biden has said he will only forgive up to $10,000 in student loan debt, and only if Congress passes legislation to do so. The Federal Reservevalued that total student loan debt in the United States is over $1.75 trillion.Democratic lawmakers who signed the letter include:North Carolina Rep. Alma Adams ArizonaRep. Ruben GallegoRep. Rau?l GrijalvaRep. Ann KirkpatrickColoradoRep. Diana DeGetteFloridaRep. Sheila Cherfilus –McCormickRep. Val Butler DemingsRep. Darren SotoRep. Frederica WilsonGeorgiaSen. Raphael WarnockRep. Hank JohnsonRep. Lucy McBathRep. Nikema WilliamsIndianaRep. Andrew? carsonLouisianaRep. Troy CarterMaineRep. Chellie PingreeMarylandSen. Chris Van HollenRep. Anthony BrownRep. Jamie RaskinMichiganRep. Andy LevinRep. haley stevensRep. Rashida TlaibMinnesotaSen. Tina SmithRep. Ilhan OmarNew JerseyMenendezSen. Cory BookerRep. Bill PascrellRep. Donald PayneRep. Albio SiresRep. Bonnie WatsonColemanOhioSen. Sherrod BrownRep. Shontel BrownOregonSen. Jeff MerkleySen. Ron WydenRep. Peter DeFazioPennsylvaniaSen. Bob CaseyRep. Brendan BoyleRep. Madeleine DeanRep. Dwight EvansRep. Conor LambWisconsinRep. Marc Pocan