08/08/2020 | Press release | Distributed by Public on 08/08/2020 19:17
WASHINGTON - Chairman Robert C. 'Bobby' Scott (VA-03) released the following statement in response to the President Trump's executive order that freezes federal student loan payments and interest until December 31, 2020.
'President Trump's executive order does nothing to address the crisis facing our education system. It does nothing to help state and local governments avoid deep cuts to public education, which could be as high as $300 billion over the next two years. It does nothing to help schools reopen safely. It does nothing to pull our child care system from the brink of collapse. And it does nothing to help colleges and universities keep their doors open and avoid widespread layoffs.
'While the House passed the Heroes Act three months ago to address these issues, the White House and Senate Republicans still cannot even agree among themselves on a path forward.
'Instead of real solutions, this executive order only offers a temporary freeze on federal student loan payments that covers fewer borrowers for a shorter time - just three months - compared to the Heroes Act, which extended the pause for a year. Eight million student borrowers, or roughly a fifth of those who would get relief under Heroes Act,will get nothing under President Trump's executive order, and all student loan borrowers will once again be subject to involuntary collections. Unlike the president's order, the Heroes Act would also provide up to $10,000 in student debt relief for more than 20 million federal student loan borrowers with the greatest need.
'Our education system is facing serious challenges that cannot be solved by an executive order. The Trump Administration's failed response to this pandemic has already robbed students of all ages of the education and growth they deserve. If the president is serious about supporting students, he should work with Congress on a comprehensive relief package that will protect the lives and livelihoods of Americans across the country.'
For more information about the Heroes Act, click here.