Van Hollen Statement on Biden Action to Cancel $10,000 in Individual Student Loan Debts, $20,000 in Pell Grant Debts & Extend Pause of Student Loan Debt Payments

Today, U.S. Senator Chris Van Hollen (D-Md.) released the following statement regarding President Biden’s action to cancel $10,000 in individual student loan debts and $20,000 in Pell Grant recipients’ loan debts for Americans making less than $125,000 annually and to extend the pause in student loan debt repayment for borrowers through December 31, 2022. 

“For too long many Americans struggling to get ahead have been burdened by the heavy weight of student debt – holding them back from financial stability and economic opportunity. But now, thanks to these executive actions by President Biden, millions of Americans from a wide array of backgrounds will receive badly needed relief. I applaud these actions and will keep working to pass long-term solutions to fix the student loan crisis, make college more affordable, and ensure all Americans can secure a better economic future.”