April 06, 2022

Correa Statement On the Biden Administration’s Announcement to Extend Student Loan Repayments

Washington, D.C. — Today, Congressman Lou Correa (D-CA) issued a statement following President Biden’s announcement to extend the pause on student loan repayments through August 31, 2022:

“The pause of student loan payments has been essential in assisting Californians and American borrowers and giving them the opportunity to recover from the Covid-19 pandemic, inflation, and rise of prices at the pump. I applaud the Biden Administration for its decision to extend student loan repayments.

We still have work to be done. While education is intended to be a great equalizer, for many obtaining a college degree has increased their debts and providing forgiveness to student debt would alleviate their economic burdens.

We must continue to work to cancel student debt and let this generation have the same opportunity we had decades ago to succeed after graduation.”

Background:  Rep. Lou Correa is a cosponsor of  H.Res.100, legislation that is calling for the President to take critical steps toward eliminating federal student loan debt on a large scale. This bill would cancel up to $50,000 in Federal student loan debt per borrower and benefits a disproportionate number of low-income borrowers.