ACE, Higher Education Associations Advocate For Relief For Student Loan Borrowers – ACE
ACE and 31 other higher education associations are asking Congress to provide relief to the 13.7 million students borrowing to finance their college education and to the 44 million borrowers already in repayment.
“We know that the pandemic will greatly hamper the ability of many of these individuals to repay their loans, and this in turn will strain the economy unless Congress moves quickly to provide needed, targeted relief to student loan borrowers,” the associations wrote in a letter to House and Senate leaders.
Loan relief for students and borrowers offers important short- and long-term benefits, both to individuals and the overall economy, and should be targeted to meet the needs of borrowers who face the greatest difficulty repaying their loans.
“By making a college education more affordable, Congress can ensure students do not drop out due to sudden changes in their financial circumstances and that prospective students are able to begin postsecondary education,” the letter states. “By providing loan relief to borrowers who have already left campus, Congress would ensure that more money is available for their immediate needs, and that additional financial security is available to Americans struggling in these difficult times.”