Government watchdog Accountable.US called President Biden’s decision to extend the pause on student loan repayments until at least June 30th, 2023 welcome relief for millions of student borrowers – relief opposed by greedy special interests like the big student loan service industry. Along with a coalition of leading advocacy groups, Accountable.US recently issued a letter to President Biden urging the repayment pause extension until the administration is able to fully implement its debt relief plan for all eligible borrowers.
Biden’s action follows a string of right-wing attacks against student debt relief – including a decision by a Texas judge and a panel of Republican-appointed judges in Missouri to block debt relief for millions of borrowers. This could impact the 16 million borrowers whose applications have already been processed and approved. The Biden administration is appealing the misguided ruling.
President Biden’s repayment pause is a weight off the shoulders of millions of Americans dealing with crushing student debt. The baseless political lawsuits attacking the administration’s relief policies could not come at a worse time as corporate greed continues to drive up prices. As President Biden prioritizes average Americans, conservative judges and politicians in the pocket of greedy special interests like the student loan service industry are doing all they can to block relief. This is a welcome step towards stimulating the economy and providing some economic relief to millions of Americans.”