Advocates for student debt relief are raising the alarm over a controversial part of the bipartisan deal to raise the U.S. debt ceiling that would end the freeze on student loan repayments by the end of August.
For more, we’re joined by Braxton Brewington, press secretary of the Debt Collective, a group working to end the student loan crisis.We only have a few minutes. Can you respond to the passage of the debt ceiling legislation and how it impacts student loan?This is President Biden turning his back on student debtors.
And so, what that risks is that, should June, this month, the Supreme Court rule against student debt relief, student loan borrowers are going to be in what could be the worst financial position they’ve ever been in, which is going through COVID, having a student debt crisis, but not having their student debt relief and having to resume costly payments.
And so, the crisis of student debt is a large one before COVID, now exacerbated by COVID, where people have lost their health insurance, their wages have been stagnated, or some have even declined. We’re looking at a situation now where people, after the pandemic, don’t actually have any relief because of student debt possibly not going through because of the Supreme Court.
What President Biden can then do is use other legal tools at his disposal to ensure that people get the relief that they’ve already applied for, that they’ve already been approved for, so that we don’t come out of COVID-19 where people are in such a really bad financial situation. The Biden administration should declare student debt an emergency on its own.
And so, it’s not too late. The vote hasn’t happened yet. We’re encouraging members of Congress and the Biden administration to strike this provision from the deal, so that student loan borrowers are not in such a precarious, bad economic situation, akin to the student debt crisis before COVID.Braxton Brewington, I want to thank you for being with us, press secretary of the Debt Collective, a group working to end the student loan crisis.
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