WASHINGTON, DC (August 5, 2021) — We commend President Biden and Secretary Cardona for providing certainty to student loan borrowers and other stakeholders. Their decision is a recognition that many borrowers are now able to repay as the result of the economic recovery and effective government interventions. A study released earlier today shows that two-thirds of student loan borrowers feel equally or more financially stable now than they did in March 2020. The Administration's commitment to a restart date enables borrowers to confidently plan for their futures and allows loan servicers to effectively prepare to assist the borrowers most in need. It is our hope that this restart will result in financially distressed borrowers receiving increased access to Income-Driven Repayment (IDR) plans. We encourage the Department of Education and the Office of Federal Student Aid to aggressively promote IDR plans, educate borrowers about them, and lower barriers to enrollment in this essential federal benefit.