Posted on 06/29/2024 5:07:13 PM PDT by E. Pluribus Unum
The decision comes after federal court rulings blocked further implementation of the student loan repayment plan.
In response to court rulings blocking key elements of the federal government’s new student loan repayment program, the Biden administration will be giving approximately 3 million borrowers a reprieve from their monthly payments.
The 3 million borrowers eligible for the pause are enrolled in the income-driven repayment program dubbed SAVE, and have a monthly payment that is more than $0 a month, the U.S. Department of Education said. About 4.5 million SAVE enrollees who qualify for $0 payments because of low incomes will not be included in the pause.
The payment pause is similar to the COVID-19 student loan relief that lasted three and a half years from March 2020 through September 2023, during which borrowers didn’t have to pay monthly bills and interest didn’t accrue.
Borrowers who are eligible for the new pause will be informed directly in the coming days, a spokesperson for the Education Department told The Epoch Times.
The announcement was made days after a federal judge in Kansas, siding with attorneys general of three Republican-led states, blocked the implementation of the final segment of the SAVE plan but declined to unwind the portions of it that are already in place.
The blocked segment is a calculation formula update scheduled to take effect on July 1. It would have allowed borrowers with undergraduate loans to have their monthly payments capped at 5 percent of their discretionary income, down from the current 10 percent limit.
(Excerpt) Read more at theepochtimes.com ...
The FEDS should be OUTLAWED from borrowing any money, ever again.
[Printing it without collateral too.]
What gives the resident biden authority to spend my money as his own war chest fundings with political motives????
Some cutting of the puppets strings is in order. Hellllo rinooooos.....
against the law, president is not king, congress must approve.
This is for all except registered Republicans.
They are buying votes they already had. Brilliant!
I don't, either, but then I don't remember the Constitution telling us that democracy is the foundation of our of government.
Anyone have a 3D CAD program of how to build a guillotine?
I’d have more respect for them if they just offered all registered democrats $500 cash
Brandon can mortgage his place again and pay for it.
utter crap.
Barack Obama started this bull. He made it so that the whole student loan program was a federal one, no incentive for banks to make loans.
I am sick of this.
Could it be anymore obvious that only reason for this is to try and win votes in an election. Total Abuse of power and total corruption.
Oh goody goody.
The DNC Biden regime is gonna give away more of our tax money just in time for Re-election day.
Yippee!
🤡
“Low income”
Boy those loans sure helped you career.
I wouldn’t be surprised if they ran a search for Republicans and flagged them to keep paying.
Too late. The nation is bankrupt, thanks to the GOP and Dems.
You have the perps named.
I remember when the Feds were not a part of Financial Aid. Keep the Feds away and let the public sector handle it.
Hubby and I responsibly paid our tuition in full and on time. We scrimped and saved to pay for the kids’ tuition. Boy, were we stupid.
The new, invigorated energetic Biden:
And each and every one of you turkeys get your rear ends out and vote for me.
white folk need not apply
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