Biden Admin to Extend Pause on , Student Loan Interest and Collections.
White House press secretary Jen Psaki announced
the extension during Tuesday's press conference.
The pause on collections
will affect over a million
borrowers who have loans in
default through private lenders.
This step particularly protects 800,000 borrowers who are at risk of having their tax refunds seized, Jen Psaki, White House press secretary, via CNN.
Calls from prominent Democratic senators to
forgive $50,000 of federal student debt for every
borrower have been curbed by President Joe Biden.
Top legal experts indicate that Biden does have the
power to cancel student loan debt through
executive order and the Department of Education.
Biden has indicated his support
for some form of student debt relief
but prefers legislative changes rather
than executive orders so that they last.
There's a lot of steps we're looking at and we'll continue to review those and be in touch of course with Leader Schumer about our process, Jen Psaki, White House press secretary, via CNN