Religious Group Urges Additional Student Debt Relief for Borrowers Facing Pandemic Hardship
In the last days of December, President Biden extended a freeze on student loan repayment until May to assist borrowers amidst the coronavirus crisis. This is the third time that Biden extended executive action began by President Trump to pause federal student loan payments and interest.
“For many struggling borrowers, the canceling of interest and deferring student loan payments is a crucial source of aid,” noted Jubilee USA Network Executive Director Eric LeCompte. “For vulnerable communities and people struggling with the pandemic and economic hardship, we will need to eliminate more of their student debt.”
Jubilee USA Network generated thousands of messages to Congress and the Trump and Biden White Houses urging student debt relief to help confront the economic crisis spurred by the coronavirus. The pause in interest benefits 41 million people. Almost 27 million borrowers have not made payments since the program began.