Alert Top Message

The AAUP national office has moved! See our new address and other contact information here

 

 

AAUP Calls on President Biden to Continue to Protect Student Borrowers

The AAUP issued the following statement on November 18. Subsequently, the payment pause was extended until June 30, 2023

The AAUP continues to appreciate President Biden’s bold action to attempt to tackle the crisis of student debt in our country. We condemn the sham lawsuits and latest court actions that have stalled these historic efforts. We applaud the administration’s decision to immediately appeal the most recent setback in the courts. This decision must be accompanied by an extension of the student debt payment pause which is scheduled to expire in January.

The AAUP calls on President Biden to continue the pause on student debt repayment until the administration’s debt relief plans are fully implemented.

Affordable, accessible, high-quality public higher education serves the common good. And yet, state legislatures have all but abandoned their responsibility to fund public higher education. While corporations and high earners got tax breaks, students and their families were stuck with higher and higher tuition costs, turning the student loan industry, assisted by predatory lenders, into a profit center for Wall Street. Higher education does not fulfill its role as a public good in a democracy when the cost of a degree is a lifetime of crushing debt.

Twenty-six million student borrowers from all walks of life have applied for debt relief. Many will have their debt significantly reduced or eliminated once their applications are processed. Pell Grant recipients may see $20,000 dollars of student debt forgiven, and 64 percent of recipients are from families making less than $30,000 per year.

Debt relief for so many is on hold during the appeal of the latest court decision. It is only fair that repayments be on hold during this time, too.

Publication Date: 
Friday, November 18, 2022