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Congressional Hispanic Caucus Welcomes President Biden’s Executive Order on Student Loan Debt

August 24, 2022

Washington, D.C. – Earlier this year, Members of the Congressional Hispanic Caucus (CHC) met with President Biden and senior White House officials to discuss topics of critical importance to the Hispanic community.

At the meeting, Members advocated for student loan forgiveness and stressed the importance of extending the moratorium on student loan repayment given the crippling effect of these loans on Latinos' ability to thrive economically.

Today, in response to these asks and advocacy from across the country, the Biden Administration has canceled up to $10,000 in federal student loan debt for borrowers earning less than $125,000 or households earning less than $250,000; up to $20,000 for Pell grant recipients; and extended the student loan payment pause.

CHC Chair Dr. Raul Ruiz and CHC Vice Chair of Member Engagement Rep. Tony Cárdenas, who presented the student loan forgiveness ask at the White House, issued the following statements:

"When the Congressional Hispanic Caucus (CHC) met with President Biden, we made clear the disproportionate, crippling burden of student loan debt on hard-working Hispanics and asked for student loan debt relief as a priority for American families. The CHC is proud to have our President deliver for students, Hispanic families, and all families overburdened by student loan debt," said Chair Dr. Raul Ruiz.

"Today is a great day for the millions of Americans who have been drowning in student loan debt. This is huge! We are talking about an entire generation of individuals from working-class families who invested in getting an education only to be faced with the crushing burden of a lifetime of debt," said Congressman Cárdenas. "When I asked President Biden to extend the student loan payment pause and cancel at least $10,000 in student loan debt with the Congressional Hispanic Caucus in April, he assured me that I was going to be happy with his decision. I am so proud to see the President has made good on his promise to deliver long overdue relief. Now, countless individuals, many Latinos, will soon get some relief needed to help make their dreams more accessible and affordable — whether it's buying homes, starting families or building their futures. I look forward to continuing to work with Secretary Cardona and the Biden Administration to deliver this relief as soon as possible."