The first week of March has been a tumultuous time for borrowers. President Joe Biden failed to mention student loans in the State of the Union address. With the student loan payment restart looming in less than two months, there has been strong speculation of yet another repayment pause and the persistent hope for some sort of comprehensive debt cancellation. The Education Department has not announced another pause but there is reason and optimism to believe that changes may be coming soon. Thanks to the work of thousands of student loan advocates, Biden’s administration has to make student debt a priority and fulfill his commitment to helping borrowers burdened by the financial cost of pursuing higher education. 

Here is a recap of the student loan news this month:

March 2, 2022 – President Joe Biden didn’t mention student loans in last night’s State of the Union address. Here’s what you need to know.

March 3, 2022 – The President’s Chief of Staff said “the president is going to look at what we should do student debt before the pause expires, or he’ll extend the pause” when speaking about student debt in a podcast discussion. 

March 7, 2022 – The Hildreth Institute joined the Student Borrower Protection Center and 208 other organizations in a letter urging President Biden to extended the student loan payment pause again before May 1st. 

March 9, 2022 – Politico reported that the Education Department instructed Federal Student Loan Agency to refrain from sending required notices about the student loan payment restart to borrowers, offering a new hint that student loan payments may not resume in May.

However, another payment pause is not enough. Student debt is caused by the rising cost of higher education, lack of available debt-free financial options, and increased reliance on student loans. Seeking higher education is becoming increasingly unaffordable for many families and the desire to seek higher education is becoming a burden rather than a tool for economic mobility.