Biden should extend student loan payment pause and cancel $50,000 for borrowers: Schumer

Contributing sentiments towards policy:

64% : That is why we recently came together as a proud coalition of lawmakers and organizations to write letters to President Joe Biden asking him to extend the pause on student loan payments at least until next spring, and reiterated our appeal that he go further by canceling $50,000 in student debt per borrower immediately by executive action.
61% : With the stroke of a pen, he can follow through on his promise and bring life-changing relief for tens of millions of Americans struggling with student loan debt.
58% : Over the course of the crisis, the pause on student loan payments has become one of the most effective steps the government has taken to help the American people.
55% : In the long term, canceling student loan debt would be a bold step towards economic opportunity for millions.
55% : Without the burden of student loans, Americans can more easily buy a home, start a business, and save for retirement.
54% : Canceling student loan debt would be a bold step toward opportunity for millions, and reverse decades of economic injustice for people of color.
51% : I am working three jobs to be able to afford the payments," Wilson said in a recent survey of student loan borrowers conducted by Student Debt Crisis and other advocates:
51% : Even before the pandemic, 43 million Americans owed nearly $1.7 trillion in student loan debt.
51% : This could stall our economic recovery and bring millions of student loan borrowers to the edge of a financial cliff.
51% : : The government can help people pay off student loans and be fair about it.
49% : According to a recent Roosevelt Institute report, canceling student debt "would provide more benefits to those with fewer economic resources" and is key to "building the Black middle class."
48% : But like many others, in order to make that dream possible, Wilson was left with $70,000 in student debt that kept getting higher as he tried to pay it off.
46% : A recent survey conducted by Student Debt Crisis and Savi found that 75% of student loan borrowers feel that the pause on payments has been critical to their financial wellbeing.
43% : After all, the burden of student debt falls disproportionately on Black and brown borrowers and women, who often owe double or more what white borrowers have to pay, even a decade after graduation.
42% : For many Americans with student debt, the COVID-19 crisis turned their financial difficulties into catastrophes.
40% : For communities of color, student debt cancellation would mean also mean closing the racial wealth gap in ways not seen in recent history.
40% : Debt cancellation thus has the power to reverse decades of economic injustice.
37% : To resume student loan payments in the middle of all this would be a terrible mistake.

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