Progressive members of Congress, leading advocacy groups and student loan borrowers have lobbied President Joe Biden to extend the student loan payment pause beyond January 31, 2022. (Here’s a list of everyone who wants Biden to extend student loan relief). They cite potential financial devastation for millions of borrowers if temporary student loan forbearance isn’t extended. Senate Majority Leader Chuck Schumer (D-NY) and Sen. Elizabeth Warren (D-MA) say that 89% of student loan borrowers feel financially unprepared to restart student loan payments. They also argue that nine million student loan borrowers in default will suffer further financial detriment. (5 ways Biden could cancel more student loans). With other U.S. senators, they have pressured Biden to postpone the return to student loan payments for at least several months and at most until the end of the Covid-19 health emergency. Despite these pleas, the Biden administration seems definitively focuses on ending this student loan relief on January 31.
