200+ Organizations Including NASW National and 50 NASW Chapters Tell President Biden to Delay Restarting Student Loan Payments in February
NASW National and 50 NASW chapters signed on to a Student Borrower Protection Center coalition letter urging President Biden to extend the current pause on student loan payments that is set to expire on January 31, 2022. “There is a broad consensus among borrowers, advocates, industry, regulators, enforcement officials, and lawmakers that a rush to resume student loan payments is a recipe for disaster and will result in widespread confusion and distress for student loan borrowers,” says the letter. “Before resuming payments on student loans, the Department of Education must undertake significant structural reforms; provide real, immediate relief; and cancel a significant amount of federal student debt. This will ensure that millions of borrowers don’t remain trapped in a broken system just as the economy begins to recover.”
The changes to the PSLF program via the Department’s temporary waiver is a direct result of advocacy by organizations including NASW and by social workers and other public service professionals.
As you may know, the Department of Education recently announced an overhaul of the PSLF program designed to allow millions of public service workers who have been struggling under the weight of student loan debt a path to relief. In short, borrowers who were previously ineligible because they had the wrong loan, were making payments on the wrong payment plan, or were knocked off track due to processing errors can now receive credit toward forgiveness for those years worked in public service.