Senator Murray: “The cold hard reality is that if Republicans were to get their way and pass this bill into law, people across the country would have relief they are counting on snatched away from them, plans they have made upended, less money in their pockets, and monthly payments not just abruptly restarted—but maybe even abruptly jacked up by hundreds of dollars.”
***WATCH: Senator Murray calls out Republicans’ push to overturn President Biden’s student debt relief plan***
Washington, D.C. – Today, U.S. Senator Patty Murray (D-WA), a senior member and former Chair of the Senate Health, Education, Labor, and Pensions (HELP) Committee, spoke out on the Senate floor against Republicans’ push to overturn President Biden’s student loan forgiveness plan and rip away relief that tens of millions of borrowers are counting on.
The Senate will vote today on a resolution introduced and passed by House Republicans that would nullify President Biden’s plan to forgive $10,000 in student debt for tens of millions of borrowers—including individuals earning less than $125,000 and couples earning less than $250,000—and up to $20,000 for borrowers who have received Pell Grants.
“Let’s be clear, this Republican bill wouldn’t only rip away relief for borrowers who qualify under the President’s plan are counting on. This CRA could impact the pause on loan payments and cause major problems for borrowers who have received relief through the Public Service Loan Forgiveness and income-driven repayment programs. That means these Republican efforts could create the perfect storm for more than 260,000 public service workers who have already earned relief,” Senator Murray said on the Senate floor. “The cold hard reality is that if Republicans were to get their way and pass this bill into law—people across the country would have relief they are counting on snatched away from them, plans they have made upended, less money in their pockets, and monthly payments not just abruptly restarted—but maybe even abruptly jacked up by hundreds of dollars.”
“Myself and all six brothers and sister of mine got through college thanks to federal loans and aid programs. I know how much of a difference the President’s plan for debt relief will make for people.”
President Biden’s student debt forgiveness plan will provide targeted, much-needed relief to millions of student borrower across the country. Before Republican interests sued to block the plan in court—putting the debt relief program on hold as the Supreme Court considers it this term—26 million borrowers across the country had either applied for debt relief or already provided sufficient information to the Department of Education to be deemed eligible for relief, including nearly half a million borrowers in Washington state. Now, Congressional Republicans are pushing to deny debt relief to these borrowers as well.
Senator Murray has helped lead the charge to make the student loan system work for students and families, ensure borrowers get the relief they are entitled to, and lower the cost of college. In 2020, she called for the federal government to forgive at least $10k in student debt. Since then, Senator Murray has pushed the Biden Administration to fix the broken student loans system and ensure borrowers get the relief they are owed. Last year, as Chair of the HELP Committee, Senator Murray called on the Biden Administration to permanently fix our broken student loan system and extend the student loan payment pause to do so. In particular, she called on the Administration to give struggling borrowers a fresh start by placing those in default before the pause back into good standing, make income-driven repayment (IDR) more generous and easier to access, forgive some debt for all borrowers and prioritize relief for those who need it most, and extend the payment pause until at least 2023 to implement these reforms before payments resume—all of which the Biden administration has since taken steps to do.
Senator Murray’s remarks, as delivered, are below:
“Thank you, M. President. I come to the floor to urge all of my colleagues to vote against this Republicans bill that would undo President Biden’s student debt relief plan and rip away relief borrowers across the country are counting on.
“It is hard to overstate how badly the student debt crisis has strained our borrowers and our families nationwide.
“And this crisis has been a drag on our whole country and economy. It is holding people back from starting families or starting businesses or buying homes or—in many cases—just making ends meet.
“The student debt relief President Biden announced last fall is life-changing for borrowers.
“Under President Biden’s plan, tens of millions of people who are struggling with student debt will finally see their balances go down, and millions will have their debt wiped out entirely.
“Before Republican interests sued to deny borrowers this life-changing relief—putting the President’s plan on pause—over 26 million people, across all fifty states, had already applied for, or were automatically eligible for, that relief.
“And let’s be clear: the relief is targeted to reach those who need it the most. 90 percent of the relief will go to borrowers earning less than $75,000 a year.
“That’s such a big deal. I have heard from so many people across my state, who were so grateful, so relieved to have a glimmer of hope, to see a light at the end of the tunnel. And now Republicans want to snuff it out.
“They’re trying to deny relief to borrowers in court—and now in Congress too. That’s what we’re voting on today!
“To the hard-working people in America who are counting on this student debt relief—listen up: Republicans are willing to do anything and everything to prevent you from living a life without crushing debt.
“And let’s be clear, this Republican bill wouldn’t only rip away relief for borrowers who qualify under the President’s plan are counting on. This CRA could impact the pause on loan payments and cause major problems for borrowers who have received relief through the Public Service Loan Forgiveness and income-driven repayment programs.
“That means these Republican efforts could create the perfect storm for more than 260,000 public service workers who have already earned relief.
“Borrowers who thought they were done paying their loans may have to pay more interest or additional payments.
“Just think about that! We’re talking about nurses, teachers, firefighters, medical researchers—I mean seriously, these are the people who keep America going!
“The cold hard reality is that if Republicans were to get their way and pass this bill into law—people across the country would have relief they are counting on snatched away from them, plans they have made upended, less money in their pockets, and monthly payments not just abruptly restarted—but maybe even abruptly jacked up by hundreds of dollars.
“That is what Republicans are voting for. It is chaos and hardship for borrowers and families across the country.
“M. President, I can’t speak for everyone—but I came here to make people’s lives better. I didn’t come here to punish them for this broken student loan system they got stuck with.
“I cannot overstate how arcane and complicated and how broken our student loan system is.
“And millions of Americans find themselves unfairly bogged down with massive debt—so often through no fault of their own.
“Myself and all six brothers and sister of mine got through college thanks to federal loans and aid programs. I know how much of a difference the President’s plan for debt relief will make for people.
“I know President Biden did the right thing here, for borrowers and for our economy.
“This isn’t a hand out—it’s a hand up that will benefit everyone.
“So, I urge my colleagues to vote against this resolution that would needlessly hurt millions of hard-working Americans—and let’s work together to fix this broken student loan system in this country.”
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