[Congressional Record Volume 167, Number 131 (Tuesday, July 27, 2021)]
[Senate]
[Pages S5076-S5077]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                             Student Loans

  Mr. President, now, on student loans, final matter: Right now, across 
the country, there are 45 million student loan borrowers who owe $1.7 
trillion in student loan debt. In good times, paying off tens of 
thousands, sometimes hundreds of thousands in debt can be a crushing 
endeavor, particularly to younger people ready to go out in the prime 
of life. But during this pandemic, as Americans lost jobs and incomes, 
it has become even harder to pay back those loans.
  Fortunately, the Federal Government provided a lifeline for tens of 
millions of borrowers when they ordered a pause on most Federal student 
loan repayments last spring. Of the many steps the government has taken 
to respond to the COVID crisis, this has been one of the most 
effective.
  Unfortunately, this pause will expire in a little over 2 months, even 
while many student borrowers are still piecing their lives back 
together after the pandemic. So later today, I will join Senator Warren 
and my House colleagues to call on President Biden to extend the pause 
on student loan payments until next spring to give Americans more time 
to get back on their feet.
  Along with Senator Warren, I believe that the Biden administration 
should go even further and cancel up to

[[Page S5077]]

$50,000 in student loan debt per borrower. With the flick of a pen, 
President Biden could give a fresh start to tens of millions of 
borrowers drowning in debt--a fresh start, just what they need as the 
country begins a fresh start as we recover from COVID.
  Today is as good a day as any to cancel student debt.
  I yield the floor.
  I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The senior assistant legislative clerk proceeded to call the roll.
  Mr. McCONNELL. Mr. President, I ask unanimous consent that the order 
for the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.