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Sen. Murray urges Biden to extend student loan payment pause until 2023
Fox Nes Business ^ | 2/18/22 | Erika Giovanetti

Posted on 03/18/2022 8:03:26 AM PDT by fatboy

Sen. Patty Murray, D-Wash., is urging President Joe Biden to extend the student loan payment pause to give the administration time to fix broken student loan programs and help student loan borrowers better prepare to make payments.


TOPICS: Business/Economy; Education
KEYWORDS: forgiveness; loan; student
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1 posted on 03/18/2022 8:03:26 AM PDT by fatboy
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To: fatboy

The original goal of this action was to get people hooked on it and eventually make it permanent.


2 posted on 03/18/2022 8:05:40 AM PDT by I want the USA back (Government is to be feared much more than the chicom virus.)
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To: fatboy

I would like to know where the money comes from to allow the government to continue making new student loans when about 90% of current borrowers are not making payments.


3 posted on 03/18/2022 8:05:42 AM PDT by fatboy
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To: fatboy

How bout car loans and mortgages you stupid little Dutch boy lookalike?


4 posted on 03/18/2022 8:06:14 AM PDT by HighSierra5 (The only way you know a commie is lying is when they open their pieholes.p)
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To: fatboy

They just want to keep the gravy train going without worrying about the consequences. They will at least wait until after the mid-terms to reinstate it. This is vote buying 101.


5 posted on 03/18/2022 8:07:08 AM PDT by ProudDeplorable (Concentrated power has always been the enemy of liberty. ~ Ronald Reagan)
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To: fatboy

“I would like to know where the money comes from to allow the government to continue making new student loans when about 90% of current borrowers are not making payments.”

Magic wand...er, mouse...er, quantitative easing*.

* Creating money because they said, “okay, imagine three trillion fresh, new dollars.” (Poof!)


6 posted on 03/18/2022 8:11:09 AM PDT by Gen.Blather (Wait! I said that out loud. Sorry.)
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To: fatboy

The payment pauses, but the interest accrues. They just get deeper in the hole.


7 posted on 03/18/2022 8:12:02 AM PDT by Babba Gi
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To: Babba Gi

The interest is paused too Babba Gi. There is no incentive to pay right now unless there is actually a desire to repay timely.


8 posted on 03/18/2022 8:21:19 AM PDT by Principled (Biden is illegitimate and whatever he says can be ignored. )
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To: fatboy

Great if Patty will make up the payment deficits out of her own pocket, not mine.


9 posted on 03/18/2022 8:22:12 AM PDT by chopperk
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To: fatboy
Sen. Patty Murray, D-Wash., is urging President Joe Biden to extend the student loan payment pause to give the administration time to fix broken student loan programs and help student loan borrowers better prepare to make payments.

Colleges are supposed to help borrowers to get "better prepared" to pay off their debts, it's called getting a job, being recruitable, having value.

10 posted on 03/18/2022 8:23:31 AM PDT by 1Old Pro
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To: fatboy
Every 5.5 years she has to come up with something as re-election time comes.
Her other brilliant idea recently is permanent daylight savings time “so you won't have to reset your clocks twice a year”
11 posted on 03/18/2022 8:25:58 AM PDT by llevrok (Pronouns: Me/myself/& I)
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To: fatboy

Eliminate all student loan debt and make the universities pay it.


12 posted on 03/18/2022 8:29:51 AM PDT by Az Joe ("Scratch a Liberal, and a Fascist bleeds")
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To: Principled

Actually the perfect time to have been paying would have been over the past 2 years. No interest accrual! A great time to pay down that principal.


13 posted on 03/18/2022 8:31:05 AM PDT by olivia3boys
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To: Az Joe

The universities won’t pay it; they have no skin in the game unfortunately and the politicians won’t touch them. That’s why tuition keeps rising: keeping pace with more lending (student loans) by the government.


14 posted on 03/18/2022 8:32:43 AM PDT by olivia3boys
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To: fatboy

Student loan programs are not “broken” any more than mortgage loans or car loans are. Loans are loans and student loans are not “special.” They are just loans.


15 posted on 03/18/2022 8:36:42 AM PDT by olivia3boys
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To: fatboy

NO.


16 posted on 03/18/2022 8:49:55 AM PDT by EinNYC
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To: 1Old Pro; All
Unfortunately today's colleges & universities want student butts on seats. What they study is immaterial! The student majors in something fun but useless, not the schools problem. (Some schools are now offering minors & majors in video gaming. No I am not talking about game design!) They have a paying butt in a seat. The student realizes he\she is wasting their time and leaves, no problem there's always another paying student student butt for that seat. Notice I used the word “paying” several times, again immaterial to the school the source of the money. If it's the taxpayer so much the better, to the school there's an infinite supply.

Another good thing about that paying student butt he\she (and their parents!) are generally naive about fields of study that have a ROI - That's Return on Investment. (If you're inside academia you wouldn't know (or at least you would pretend not to know!) the meaning of the acronym!). So given that naivety, you talk the paying student butt into useless no future ROI but trendy & woke programs at your school. (These programs do nothing for the student's future but make you the administrator and the school look good to others in the academic universe!

Who's ultimately at fault:

1. Those voters who blindly acquiesce to anything “education”. They hear the words “It's for the children!” and they shower the academic con artist with money.

2. If public institutions state legislators who react like the voters in item 1. Their job should be to ROI test programs the taxpayer pays for for. If private institutions its their governing board's responsibility and the alumni! Small private institutions are headed for extinction and going trendy will only accelerate it. Only going ROI will fix it. Give the students a reason to go there!

3.Governing boards (both types of schools!) who won't hold school presidents feet to the fire over things like ROI. Yes you may take heat by those playing the Race Card, show some guts and do it!

4. Students, parents & K12 academic counselors who don't think critically about the students need to go the college\university. (Perhaps a four year paid party & vacation from reality is the goal. I knew some parents who thought this way!) Also think critically about the college\university claims in general & its academic program claims in particular.

17 posted on 03/18/2022 9:00:04 AM PDT by Reily
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To: olivia3boys

It’s always a good time to pay down principal ;)


18 posted on 03/18/2022 9:37:16 AM PDT by Principled (Biden is illegitimate and whatever he says can be ignored. )
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To: fatboy

My understanding is that the interest still accrues. What good does deferral do, when the interest continues to rack up? (I know, you don’t have to pay a on the principal).


19 posted on 03/18/2022 9:44:37 AM PDT by Go Gordon
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To: fatboy

How many stories are here in one day with Democrats “urging” someone to commit more institutional evil?’


20 posted on 03/18/2022 10:05:30 AM PDT by Luke21
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