'We cannot allow these blatantly political lawsuits to throw millions of borrowers into financial catastrophe,' argues a letter from theSBPC and 224 other groups, urging the president to extend a pause on payments and fight GOP legal challenges.
The U.S. Department of Education application website
"We cannot allow these blatantly political lawsuits to throw millions of borrowers into financial catastrophe," the letter argues."Throwing millions of borrowers back into repayment as the state of debt relief remains uncertain is a recipe for disaster and will result in widespread confusion and set borrowers up for failure."
Ingrid in California said that"as a single mother and someone working in the nonprofit industry, I live paycheck to paycheck. I have no other debt except my student loans, and I have the intention to repay them, yet the incredible interest rates and requirements make repayment an endless and never-ending debt."
"If payments unpause, I will certainly default on my loans," she continued."I've already filed for bankruptcy once and still have all this debt that I couldn't possibly pay off in my lifetime. I don't know where to turn at this point and am so distressed. Borrowers like me are relying on President Biden to extend the pause and deliver on student debt cancellation."
The email further pledges that"your application is complete and approved, and we will discharge your approved debt if and when we prevail in court."Friday that experts say"Biden has little choice other than to extend the almost three-year freeze on U.S. student loan payments, as his attempt to forgive some of the debts gets mired in legal challenges."
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