The federal student loan pause is being extended through August

Forutne ^ | April 5, 2022 | Alicia Adamczyk

[Dr. Franklin]

********* Joe Biden will extend the pause on federal student loan payments once again, this time likely through the end of August 2022, several news outlets have reported, citing sources familiar with the matter.

The U.S. Department of Education did not immediately respond to Fortune's request for confirmation of the change. But if the moratorium on loan payments and interest accrual is extended, it will be the fifth time since it was first enacted in March 2020 under President Donald Trump to help those who might be struggling to make payments during the coronavirus pandemic. The pause does not apply to private student loans.

With inflation soaring, the relief will come at a welcome time for the estimated 37 million borrowers who have had payments waived since the start of the pandemic. Collectively, they have saved around $195 billion, according to the New York Federal Reserve, and their credit scores have jumped.

...

Many experts predicted the pause would not expire May 1. Last week, a group of 100 Democratic lawmakers sent Biden a letter urging him to extend the pause. Some Democrats also want the president to go farther, forgiving more debt or cancelling loans outright.

During his presidential campaign, Biden supported cancelling $10,000 worth of student loan debt for all federal borrowers. Since taking office, he's made little movement on the promise, though his administration has forgiven debt for some disabled adults and some defrauded borrowers. The Education Department has also temporarily expanded eligibility for PSLF, and 100,000 borrowers have had their loans forgiven as a result of those changes since October 2021.

[Dr. Franklin]

So unwilling to fulfill their campaign promises to one group that probably actually voted for Bidet, the installed Regime will now extend the student loan pause until after election to keep Dem voters in need. The Dems tell their base, "Who else will help you?" Trump could steal their lunch politically by offering a real deal: Abolish the DOE in exchange for forgiving student loan debts for those who are underwater financially after a certain period of time after graduation. The more the Dem base shrinks, the more votes that are needed to steal elections and keep them in power.

[Extremely Extreme Extremist]

Cancelling student loan debt is all about creating dependency. The Dems will put in a catch that if your student loans are wiped out, you'll have to volunteer for some make-work program or switch your bank account over to one owned by federal regulators or something. It might even be digitized, then the social credit score will begin.

Otherwise, I agree that the DOE should be completely dismantled in exchange for wiping out student loan debt - and giving those who paid their student loans a one-time tax credit.

[ActresponsiblyinVA]

If he forgives debts of $10,000 shouldn’t he give those who have paid their debts $10,000. Or does this subsidize irresponsible conduct?

[E. Pluribus Unum]

Then it will be extended through the election.

[SamAdams76]

Instead of wiping out student loans, they will instead extend the "pause" indefinitely until some mean Republican comes along to make them start paying what they owe.

[alternatives?]

“Then it will be extended through the election.”

Announced in August no doubt.

[Secret Agent Man]

More gynocentric relief for women.

The pandering is sickening, espexially when it comes from our wallets.

[immadashell]

Extended in perpetuity is next - kinda like the Federal budget!

[bitt]

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