Rising Inflation Cautions Against Restarting Student Loan Payments

WASHINGTON, D.C. – The U.S. Bureau of Labor Statistics announced today that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.8% in November. This follows two previous increases in September and October that continue to have an impact on rising costs for goods and services. Remington A. Gregg, counsel for civil justice and consumer rights at Public Citizen, released the following statement:

“With costs to families rising, does President Joe Biden want to be responsible for adding financial burdens on American families? If not, he should immediately extend the student loan payment pause to give families certainty that they won’t have to choose between paying for food and onerous student loans. Payments are set to resume in less than 60 days, even as another strain of the coronavirus hinders people’s ability to get back to work and return to normalcy. The choice couldn’t be clearer.”