Biden Extends, Pause on , Student Loan Payments.
On April 6, President Joe Biden announced
that a pause on federal student loan payments
will now be extended until August 31.
On April 6, President Joe Biden announced
that a pause on federal student loan payments
will now be extended until August 31.
ABC reports that this is the sixth extension
that has been put in place since the
pandemic began over two years ago. .
The decision comes less than
a month before payments were
scheduled to begin again in May. .
The extension potentially affects millions
of people who would have otherwise
been unable to make their payments.
As I recognized in recently extending
the COVID-19 national emergency,
we are still recovering from the
pandemic and the unprecedented
economic disruption it caused, Joe Biden, President of the United States, via ABC.
If loan payments were to resume on schedule
in May, analysis of recent data from the
Federal Reserve suggests that millions
of student loan borrowers would face
significant economic hardship, and
delinquencies and defaults could
threaten Americans’ financial stability, Joe Biden, President of the United States, via ABC.
If loan payments were to resume on schedule
in May, analysis of recent data from the
Federal Reserve suggests that millions
of student loan borrowers would face
significant economic hardship, and
delinquencies and defaults could
threaten Americans’ financial stability, Joe Biden, President of the United States, via ABC.
NBC reports that Biden has faced
pressure from fellow Democrats to either
pause or cancel student loan debt. .
The issue of student loan debt
will reportedly play a role in midterm
elections around the country. .
Progressive Democrats have reportedly
criticized the administration for the
ongoing uncertainty borrowers face. .
NBC points out that Biden promised $10,000 in student
loan forgiveness for borrowers during his election
campaign but has yet to make that promise a reality.