The clock’s ticking on 2.4 million New Yorkers saddled with $91.6 billion in student loan debt who they must begin repaying in February, when the federal government’s pandemic-related payment pause.
While many of them might seek forgiveness from their loans, they and millions of other Americans burdened with student debt are facing a good chunk of their income being lost once the pause expires, according to Senate Majority Leader Chuck Schumer. With that in mind, Schumer said on Monday he wants to do the next best thing to forgiveness: urging the Biden Administration to extend the pause beyond Feb. 1 to a later date.
