Over 100 House and Senate Democrats are urging the Biden administration to extend the government’s pause on federal student loan payments until at least the end of the year.
The members the pause has provided needed relief for financially stressed borrowers and encouraged President Biden to cancel the debt completely.
“Although there may be different ideas about the best way to structure cancellation, we all agree that you should cancel student debt now,” the members wrote in a letter to Mr. Biden on Thursday.
Among those who signed the letter were Senate Majority Leader Charles E. Schumer of New York, Massachusetts Sen. Elizabeth Warren, House Whip James Clyburn of South Carolina, and Rep. Alexandria Ocasio-Cortez of New York.
Student loan borrowers have not had to pay down their federal loans since March of 2020 due to the financial burdens prompted by the COVID-19 pandemic. Those favoring a continuation of the moratorium said it has saved families an average of $393 per month.
The current payment pause is set to end on May 1.
Several House and Senate Democrats have been vocal about canceling student debt, a vow Mr. Biden made before taking the presidency. On the campaign trail, Mr. Biden promised to forgive up to $10,000 in debt for borrowers.
The members said canceling student debt altogether would boost racial and economic equity, arguing that people of color are more likely to take out student loans.
“The student loan system mirrors many of the inequalities that plague American society and widens the racial wealth gap,” they wrote.
A Morning Consult/Politico poll from December found that just 1 in 5 voters supported complete relief from student debt. Three in 10 said no student debt should be forgiven.
The poll, conducted Dec. 18-20, 2021, surveyed 1,998 registered voters, with a margin of error of +/-2%.