Democrats urge Biden to extend student loan pause until April 2022

Key Democratic lawmakers are calling on President Joe Biden to extend the pandemic-related student loan payment pause another six months beyond October -- or until the economy reaches pre-pandemic employment levels, whichever is longer.

Senate Majority Leader Chuck Schumer of New York and Sen. Elizabeth Warren of Massachusetts led a group of more than 60 other Democrats in asking the President in a letter sent Wednesday to push back the restart date, warning it could "create a significant drag on our economic recovery."

RELATED: When do student loan payments restart?

As of now, federal student loan borrowers will have to resume payments on October 1 after an unprecedented 19-month suspension.

The freeze was initially put in place by Congress and then extended by both the Trump and Biden administrations.

CNN has reached out to the White House for comment.

How much borrowers have saved

Borrowers' balances have effectively been frozen since March 2020. Interest stopped adding up, saving the average borrower about $2,000 over the first 12 months -- and collections on defaulted debt have been on hold.