Borrower advocates worry that if the bill is not vetoed as Biden has promised, 40 million student loan borrowers could face backpay for those paused payments and have new interest charges added to their debt.
, which has suspended most federal student loan payments and interest through this summer.
“It is shameful that legislators would endorse measures that harm the very heroes in our communities — veterans and nurses — who are still grappling with the aftermath of the pandemic and its profound economic impact," Natalia Abrams, executive director of the Student Debt Crisis Center, said in a statement. "We urge President Biden to fulfill his promise to veto this bill and put an end to these attacks against hardworking families ensnared in debt.
“Today’s vote makes crystal clear exactly who stood up and fought to protect the economic livelihoods of millions of people with student loan debt — and who schemed to keep them drowning in the debt despair of our nation’s student loan crisis,” Mike Pierce, executive director of the Student Borrowers Protection Center, said in aWhether the bill would require borrowers to pay back payments remains an open question that Republicans who supported the bill have pushed back on.
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