FOR IMMEDIATE RELEASE
December 23, 2021
HACU statement on student loan payment relief extension
SAN ANTONIO – The Hispanic Association of Colleges and Universities has released the following statement on President Biden’s announcement pausing student loan repayments until May 1, 2022.
HACU applauds President Biden’s decision to pause student loan repayments, interest, and collections through May 1, 2022. The impact of the COVID-19 pandemic has further exacerbated the perpetual debt cycle challenging student borrowers.
“The pause in student loan repayment is most helpful for borrowers facing financial hardship,” said HACU President and CEO Antonio R. Flores. “We urge the President to consider a long-term comprehensive solution that will aid student borrowers to minimize their financial aid debt. Most needy students and graduates of Hispanic-Serving Institution have long struggled to keep up with the rising cost of college as the growth rate of need-based grants continues to lag behind. The dreams of many of our HSI students for a better life are often disrupted by the fear of student debt, which further hampers social and economic mobility.”
About HACU
The Hispanic Association of Colleges and Universities, founded in 1986, represents more than 500 colleges and universities in the United States, D.C, Puerto Rico, Latin America, Spain, and school districts throughout the U.S. HACU is the only national association representing existing and emerging Hispanic-Serving Institutions (HSIs). The Association’s headquarters are in San Antonio, Texas, with regional offices in Washington, D.C. and Sacramento, California.