With tens of millions of people becoming eligible for student loan forgiveness under President Joe Biden’s recently announced plan, loan providers nationwide need to staff up to handle the influx of paperwork, Senate Majority Leader Chuck Schumer said.
He called on the companies to add “thousands” of staff to process loan forgiveness applications and answer questions.
“We need our loan processors to get with it and inform students how to do this,” Schumer said at a Midtown Manhattan news conference, adding that loan providers are currently understaffed.
