Washington, D.C. – Senate Majority Leader Chuck Schumer (D-NY) released the following statement supporting the Biden Administration’s decision to pause student loan repayments through June 30, 2023:
Borrowers are drowning under student loan debt and the Biden administration is throwing them a lifeline as we fight MAGA Republicans in court. President Biden’s action gives millions of borrowers the breathing room they need. The pause in payments and interest gives student loan borrowers more opportunity to pay down their debt and reach important milestones in life like opening a savings account, purchasing a home, and saving for retirement.
We will prevail because the law is on our side and we will keep fighting to get student debt relief done.