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While advocates for pupil loan borrowers praised the choice, they known as on the Biden administration to use the following few months to provide more widespread relief to borrowers, together with broad scholar mortgage cancellation. “While today’s announcement provides some monetary safety for borrowers and their families as they recuperate from job losses, reduced hours, or shut down companies, the fact is that the President can do way more,” stated Natalia Abrams, government director of Pupil Debt Crisis in a press release. “President Biden has the legal authority to cancel pupil debt by way of government motion and we’re building an unprecedented movement urging him to take such motion earlier than payments resume on January 31, 2022.”