Posted on 11/22/2022 12:57:50 PM PST by Oldeconomybuyer
WASHINGTON (AP) — President Joe Biden announced Tuesday that his administration will extend the pause on federal student loan payments while the White House fights a legal battle to save his plan to cancel portions of the debt.
“It isn’t fair to ask tens of millions of borrowers eligible for relief to resume their student debt payments while the courts consider the lawsuit,” Biden said in a video posted on Twitter.
The moratorium was slated to expire Jan. 1, a date that Biden set before his debt cancellation plan stalled in the face of legal challenges from conservative opponents.
Now it will extend until 60 days after the lawsuit is resolved. If the lawsuit has not been resolved by June 30, payments would resume 60 days after that.
(Excerpt) Read more at apnews.com ...
President Joe Biden announced Tuesday that his administration will extend the pause on federal student loan payments while the White House fights a legal battle to save his plan to cancel portions of the debt.
You don’t have the authority to do that either...
The student loan pause will last another 2 years (’till after the next election cycle), and then, failure to advance it will be blamed on republicans.
Covid is over. Stop using it as an excuse to bankrupt the country.
LYING BASTARD-—NONE of these students is eligible to get their loans cut down. NONE.
Which borrowers would that be that are eligible for relief, Joe?
Man, am I ever relieved. I was afraid I would be left owing the bill for my underwater basket weaving degree.
The student loan debt has been in default for long enough that any creditor would know its not going to be willingly paid. Yes you could call it a pause, but that’s not what’s going on here. It will all come down. The full balances. Not just $10K or $20K.
King Billions Biden, the most fiscally responsible President in history!
Regardless, the people that have these loans should be paying them off as soon as possible especially since interest free right now. If they want to go down to $10,000, that’s fine. it’s still risky and they may end up having to pay the 10 grand to.
Why should student debt be any different than any other debt? If the Administration was so gung ho about this, they would require a claw-back from the universities that received the unearned gains.
From day one, smarter people than biden (that would be pretty much all of us) said this was unconstitutional on the face of it. It was pretty easy, actually. Congress, not the president, spends money. Duh.
The Covid-19 pandemic was extended through April 2023. Extending the student loan repayment moratorium through June 30 means the pandemic can't end before July 2023. Insanity on steroids.
It’s even less ‘fair’ to ask me to pay for their loans either...
.
I don’t believe he has the power to do any of this.
Didn’t the court just declare they were not eligible for relief?
What’s going on here is clear to me. The Biden admin wants the supreme court to say “You can’t do that”, so THEN, it’s the court’s fault, and not theirs.
how does the president have power to keep stopping these payments?
isn’t that the same as spending money congress hasn’t given him?
“It isn’t fair to ask tens of millions of borrowers eligible for relief* to resume their student debt payments while the courts consider the lawsuit,”
The Bidet’s comment forgot to add one phrase, who were not already paying their debts,*
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