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President Biden's Extended Pause on Student Loan Repayments a Win for Economy

WASHINGTON -

Government watchdog Accountable.US called President Biden’s decision to extend the pause on student loan repayment for millions of student borrowers the right call at a time runaway corporate greed, among other factors, threatens to bring about a recession. 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,” said Liz Zelnick, spokesperson for Accountable.US. “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 and the economy heads towards a recession. As President Biden prioritizes average Americans in this moment of economic uncertainty, conservative judges and politicians are doing all they can to protect the bottom line of greedy special interests. This is a welcome step towards stimulating the economy and providing some economic relief to millions of Americans.” 

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Accountable.US is a nonpartisan watchdog that exposes corruption in public life and holds government officials and corporate special interests accountable by bringing their influence and misconduct to light. In doing so, we make way for policies that advance the interests of all Americans, not just the rich and powerful. 

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