Sign the petition: President Biden must not resume student loan payment collection!
Dear MoveOn member,
The student debt payment pause, which has meant so much to millions of Americans, is about to expire! It's provided a critical lifeline for millions of Americans over the last two years—but it’s set to end in nearly one month, on May 1.1
For millions of student borrowers across the country, it’s been over two years since their last federal student loan payment. Since March of 2020, a federal student loan payment pause has been in effect in order to support borrowers through a series of unprecedented economic crises fueled by the COVID-19 pandemic.
Millions of student loan borrowers are trapped in exploitative loan arrangements, with sky-high interest rates and little hope of ever paying off their debt—and they can’t afford to restart payments anytime in the foreseeable future.2 While the for-profit lenders are getting richer, millions of Americans reach middle age locked into perpetual debt. It would be cruel (and, not to mention, politically reckless) to resume payments, especially as we continue to grapple with the ongoing inflation crisis on a daily basis.
Continuing the pause on federal student loan payments is an important investment in Americans' financial lives. Not only has it provided critical relief for millions of people, it’s given them a degree of financial freedom to pay rent or purchase homes, afford health care or medicine, start small businesses, and support their families.
Call on the Biden administration to extend the student loan payment pause indefinitely!
Thanks for all you do.
–Arvin, Isbah, Jaira, Jenn, and the rest of the team
Sources:
1. "Democrats press Biden to extend freeze on student loan payments," The Hill, March 23, 2022
https://act.moveon.org/go/161388?t=14&akid=319826%2E40999114%2EmoqNMa
2. "I’ve Spent $60,000 to Pay Back Student Loans and Owe More Than Before I Began," The New York Times, March 18, 2021
https://act.moveon.org/go/161389?t=16&akid=319826%2E40999114%2EmoqNMa
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