Gov. Jared Polis yesterday urged President Joe Biden to extend the two-year suspension of federal student loan payments, arguing it would provide Coloradans relief at a time of soaring inflation and rising energy prices.

“The past two years of suspended payments have allowed millions of households to weather this storm, yet families with student debt still struggle to stay afloat as every other aspect of American life becomes more expensive,” Polis said in his letter to Biden.

Some 45 million Americans owe more than $1.7 trillion in student loan debt, according to the Student Debt Crisis Center.

In his letter to Biden, Polis noted that a student debtor pays an average of more than $300 per month. The governor said continuing to pause student loan payments means increasing Americans’ ability to pay for gas, childcare and housing.

“Although the White House cannot dictate the price of global oil, it can determine whether or not households are required to resume making monthly payments on government-owned federal student loans,” said the governor, who noted the sharp rise in inflation and the latest average gas prices.

Student loan payments have been on pause since March 2020. The interest payment has also been set to zero. Both the Trump and Biden administrations have extended the forbearance program, which is set to expire on May 1, 2022.