Posted on 08/06/2021 2:38:30 PM PDT by BenLurkin
The pause on federal student loan payments has been extended until January 31, 2022.
The freeze was put in place at the start of the COVID-19 pandemic in 2020 as the federal government worried millions of debt holders would default on loans due to job loss and the down turned economy.
Education Department officials have extended the pause under the Biden administration and former President Trump’s administration several times.
It most recently was set to expire September 30. The Biden administration said this is the final time they will extend the pause on repayment.
“As our nation’s economy continues to recover from a deep hole, this final extension will give students and borrowers the time they need to plan for restart and ensure a smooth pathway back to repayment,” said U.S. Secretary of Education Miguel Cardona in a press release announcing the pause.
(Excerpt) Read more at khon2.com ...
Still waiting for the freeze on income and property taxes.
So glad I paid mine off early. So. glad.
Golf clap.
A rather important detail missing from the article is that interest rates will be set at 0% during the pause.
landlords could really use that.
Hmmm...what is happening in 2022?
I am a damned fool for paying them off ahead of time I guess...
Just a thought here as we have a rather unique employment situation where there are more open positions seeking applicants than there are unemployed. Yet, the monopoly that is the Federal Government for Student Loans (2010), creates this hiatus without any encouragement to seek available work! I find this rather unsettling!
Mandate the lenders to write-down their loans on these dead-beat borrowers.
Yep. And no pause for me because I kept working . . . and Navient kept raiding my back account monthly.
Navient. Don’t me started... .
Why would they default anymore than usual since there are plenty of jobs for them to work at the moment.
This is a perfect time to pay off student loans with zero interest.
YES!
I wish I knew how that was possible.
Interesting. We have Navient, and had to opt out in order to KEEP paying monthly.
Hubby has Navient and they’re only charging interest currently.
So if I borrow the money to get either get my PhD or another Masters I can expect to not have to pay it back? (Sarcasm alert).
The precedent has been set. When something goes wrong, Mommy Government will fix the boo boo. She’ll just spread some money around and give some people special privileges. That’ll train the people to expect M G to rescue her spoiled little brats every time something goes bad.
After enough training, Mommy’s little brats will be ready to accept communism, which is the ultimate goal of all this.
Why only pause until 2022?
Why not until 2222? Or 22222?
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