We, the undersigned, urgently call upon the White House and Congress to implement an immediate pause on all federal student loan payments and interest accrual.​

Millions of Americans and their families are already struggling to pay their student loans, with 5 million already in default, and nearly 5 million more behind on payments and about to enter default. Many now face the possibility of increased monthly payments, which could lead to significant financial hardship and potentially result in a huge wave of defaults. The threat of global conflict and uncertainty, the high cost of living, to the reconciliation bill that will certainly raise monthly student loan payment amounts, finances are top of mind for so many Americans who are already struggling to stay afloat — especially Americans with student loan debt.

By pausing student loan payments, millions of Americans with student debt can be protected from further financial insecurity and have some extra breathing room. It is heartless and cruel to expect millions of individuals and families to pay their monthly payments with so much uncertainty in the world, including financial uncertainty.

A student loan payment pause can give hard-working Americans the relief they desperately need. In many cases, monthly payments are the difference between families meeting their basic needs. A payment pause will allow families to prepare for the future during these uncertain times. Borrowers should not be expected to make payments amidst widespread global and economic uncertainty to protect their financial stability.