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 ...
People need to get back to work. If your department was hiring and an applicant who had not worked for the past year and a half was one of the candidates, would you recommend hiring him or her? I wouldn’t.
(This of course does not include stay at home parents, caregivers, people who have been severely injured or gravely sick, etc.)
Expecting vouchers for free food and gasoline shortly!
Anything for the People!
And when payments do start up again, they’ll be additinoally discounted by the hyper-inflation that will have kicked in by 2022.
Saw a sticker at a fast food drive through that said, “Banks will give a 17 year old a $200,000 loan for college, but deny a $20,000 small business loan.
Really made me think, and it make me angry that I had not thought of that.
Does this pause accumulation of interest?
Navient. Probably the single biggest mistake of my entire life, and probably the biggest thief in the student loan arena. IF those payments could be curtailed, I’d be in heaven.
Mid term selections
Careful with that sarcasm! They'll put you on the "NO FLY" list and lower your "Social Credit" scores. They'll probably revoke all of your credit cards and banking privileges as well...
So when does my car loan, home loan and CC rates go to zero until 2022?
It’s for all borrowers not just dead beats.
What??? I heard Navient getting out of student loan business but that sounds illegal.
Yes. Interest does not accrue.
Is Navient private or one of the dozen fed student Loan servers. One kid deals with Fed Loans directly. One had Grest Lakes.
Still waiting for that middle-class tax cut Bubba promised us all in 1992.
Yeah, no kidding.
I know Millennials who were single-issue Biden voters on student loans - they don’t dare make them start paying again.
They won’t dare, you are right. I recall many years ago the advice that if you were financing a vehicle, it was better to trade it in before the payments end so you never got used to the extra income no payments meant. (The last time we financed a car was in 1990, so things may have changed a lot.) But people tend to expand their “necessities” to fit their income and these students will have a hard time handing money over to the government which could just cancel the debt altogether if it wanted.
All debts are paid.
Private, and immune from bankruptcy thanks to our past presidents.
I think Navient is private. They told him his loan wasn’t eligible for the moratorium because it was private, but when he logs onto pay it, he only owes like $100, which means it’s pry just interest. So I’m really confused!
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