The year anniversary of the attack on the Capitol will be marked by a speech by President Joe Biden in Statuary Hall of the Capitol.
Student loan forgiveness is a major issue that some warn Democrats could pay for at the ballot box in the upcoming elections, so advocates and lawmakers are stepping up the pressure on President Biden to act.
Congress wants Biden to provide more transparency about his authority to wipe out federal student debt for millions of Americans. The extension of the student loan repayment pause made advocates optimistic that more action will come out of the White House.
"I think the administration needs to engage more with Congress on this because I think there's real concern," said Sen. Bob Casey.
As the party prepares for a critical election year, Senate Majority Leader Charles Schumer (D-N.Y.) is looking to Biden for support on the issue of student loan forgiveness.
The pressure is mounting. It's mounting from the grassroots, from the public, and from members of Congress. There are several pressures that are aligning. Thomas Gokey is an organizers with the Debt Collective.
The student loan payments were paused under the Trump administration. The freeze was extended several times under both the Biden and Trump administrations.
The forbearance on student loans was set to be lifted on January 31st, but Biden extended the hold last month because of pressure from progressives and borrowers. The pause on federal student loans and interest accrual was extended by Biden.
A White House spokesman told The Hill that the extension was a recognition that millions of student loan borrowers need more time to recover from the effects of the swine flu.
The extension was a short-term victory for advocates who had been pushing for Biden to extend the moratorium.
The action did little to quell calls for the president to use his power to cancel student loan debt.
"If he has the authority to pause student loan payments, he has the authority to cancel, and he ran on canceling at least $10,000," said Rep. We hope he cancels it, and we're pushing him to do that.
The political implications of Biden resuming loan payments in an election year were warned by Natalia Abrams, president and founder of the Student Debt Crisis Center.
Extending this pause has been the middle ground. We'll be okay if he continues to extend the payment pause until they're ready to cancel the student debt. She said that rather than turning payments on in a year when borrowers aren't ready.
During his 2020 presidential run, Biden promised to forgive at least $10,000 in federal student loans per person.
The Debt Collective warned that if Biden doesn't forgive up to $50,000 in federal student debt, he will lose voters.
Gokey said that this isn't just the mid-terms, it's about the rest of their lives. A Democrat can't be elected dog catcher if they turn student loan payments back on.
As top Democrats continue to call on Biden to go higher or wipe out student loan debt entirely, disagreements have arisen over whether the president has the power to do that through executive action.
Lawmakers and advocates have been waiting for months to see a memo that Biden requested from the Department of Education to determine his authority to cancel student debt.
"I don't know why it would be held onto this long," said Abrams. "No matter what side of the aisle you're on, we all should see that in terms of transparency and that way borrowers and lawmakers can move on appropriately."
The Education Department is working with the White House to review options with respect to debt cancellation, when asked if they are done with the memo requested by the president.
Gokey said that he thinks the president has the authority to forgive student loans, and that they've been sitting on the memo.
The White House pointed out that the administration has taken steps to provide loan relief to more than 640,000 borrowers and permanently disabled borrowers.
In the coming weeks and months, the White House will make regulatory improvements to income-driven repayment, borrower defense to repayment, and closed school discharges.
Many borrowers have been waiting for more than eight months since the memo was requested by the White House, which has made it hard for them to get a loan ahead of the May deadline.
They know there's going to be a lot of political backlash on it, so they want to make sure that they're crossing all the T's and dotting all the I's. "I get their apprehension, but they need to move at some point whenever they get a clear determination," Rep. Ruben Gallego told The Hill.
Data has shown that borrowers of color, especially Black and Hispanic graduates, carry a disproportionate burden when it comes to student debt forgiveness.
He thinks that a student debt forgiveness package would go a long way. I think it would be a huge lift on the personal economies of these borrowers, but it would be a tremendous lift to the economy.
Black and Hispanic graduates are more likely to default on their loans than white graduates, according to research released by the Brookings Institution.
The American Association of University Women found that black women had 20 percent more student debt than white women, carrying a bigger debt burden than other women of color.
A Color of Change poll released in February found that 84 percent of Black voters supported full or partial debt cancellation, which was key to helping Biden win the election in 2020. 40 percent of Black voters said they wouldn't back a candidate that didn't support eliminating student debt.
The push for student debt forgiveness has grown in popularity. A December poll by Morning Consult/Politico found that over 60 percent of voters support student debt forgiveness.
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Out of a million student-loan borrowers, 32 should be able to get forgiveness after 20 years.
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