Posted on 04/05/2022 3:18:31 PM PDT by dynachrome
WASHINGTON — The Biden administration plans to freeze federal student loan payments through Aug. 31, extending a moratorium that has allowed millions of Americans to postpone payments during the coronavirus pandemic, according to an administration official familiar with the White House’s decision-making.
Student loan payments were scheduled to resume May 1 after being halted since early in the pandemic. But following calls from Democrats in Congress, the White House plans to give borrowers additional time to prepare for payments.
The action applies to more than 43 million Americans who owe a combined $1.6 trillion in student debt held by the federal government, according to the latest data from the Education Department. That includes more than 7 million borrowers who have defaulted on student loans, meaning they are at least 270 days late on payments.
Borrowers will not be asked to make payments until after Aug. 31, and interest rates are expected to remain at 0% during that period.
(Excerpt) Read more at nypost.com ...
I do believe you must have a crystal ball in your possession!
They should make it illegal to grant a loan for any field of study that contains the word studies in its title
I bet they haven’t stopped writing loans.
Mid-term polling must look pretty bad but I doubt even libs will fall for the student loan scam again.
Are you suggesting that people who pay their bills are suckers?
August 31 puts the issue into the beginning of the election season. Why not extend until November 30?
Waiting for the right moment to forgive people of color only
Gotta keep the economy running hot.
Why not extend to Nov 30? Because voters have very short memories?
As the end of August approaches, ~60 days away from the election ... abracadabra ... extend to Jan 31, 2023 .... and once again, givernment handouts (election payoff) were given for the millions of (leftist voting) students who will then be told by Stacy Abrams et al that the racist GOP [fill in the blank].
August of what decade?
My daughter graduated from college May 2021 and paid off her student loans Dec 2021. Does she get a refund?
As my wife constantly told our kids ( and me occasionally), “You don’t get extra credit for doing the right thing.”
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