[Congressional Record Volume 167, Number 109 (Wednesday, June 23, 2021)]
[Senate]
[Page S4708]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                             STUDENT LOANS

  Mr. SCHUMER. Madam President, one final matter: student loans. Today, 
I have joined Senator Warren and a number of my House and Senate 
colleagues to urge the Biden administration to extend the pause on 
payments and interest for the vast majority of Federal student loans.
  For millions of student borrowers, one of the most difficult 
challenges is balancing their debt with their dreams of starting a 
career, starting a family, and buying a home. When the pandemic hit, 
these challenges were magnified a hundredfold. Job opportunities 
disappeared, and our economy came to a halt. The pause on student loan 
repayment during the pandemic was a life-altering policy that allowed 
tens of millions of young people to escape financial ruin.
  Right now, the current pause on repayment of student debt is set to 
expire on September 30. I believe that is too soon. Our economy is 
still recovering. Americans are still pulling themselves up and dusting 
themselves off after one of the greatest economic crises in our 
history. The October 1 expiration date could risk putting millions of 
student loan borrowers back into financial hardship.
  Very simply, I am urging the Biden administration to extend the pause 
on student loan repayment by another 6 months, until March 2022. Even 
as the economy recovers, young people, borrowers with a load of debt, 
will struggle more than most to get back on their feet. Why not give 
them a little more breathing room?
  I urge the Biden administration to extend the pause, and I will 
continue working with Senator Warren on ways to provide even more 
comprehensive, life-changing student loan forgiveness--a policy, I 
believe, that will expand opportunity for millions, millions of young 
Americans.
  I yield the floor.
  I suggest the absence of a quorum.
  The ACTING PRESIDENT pro tempore. The clerk will call the roll.
  The senior assistant legislative clerk proceeded to call the roll.
  Mr. McCONNELL. Madam President, I ask unanimous consent that the 
order for the quorum call be rescinded.
  The ACTING PRESIDENT pro tempore. Without objection, it is so 
ordered.

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