When it comes to the repayment of federal student loans, the Biden administration just keeps kicking the can down the road.
People on the left like Bernie Sanders and Elizabeth Warren are pushing for a total cancellation of the debt. Biden doesn’t want to say no to them, so he just keeps extending the deadline.
How much longer do they think this can go on?
Biden administration extends pause on federal student loan repayments through August
The Biden administration is extending a pause on federal student loan repayments through August 31.
The repayment freeze, which has been in place since the beginning of the pandemic, had been scheduled to expire on May 1.
In a statement Wednesday, President Joe Biden acknowledged that the economy is stronger than it was a year ago but that “we are still recovering from the pandemic and the unprecedented economic disruption it caused.”
“That additional time will assist borrowers in achieving greater financial security and support the Department of Education’s efforts to continue improving student loan programs,” he said.
Borrower balances have effectively been frozen for more than two years, with no payments required on most federal student loans since March 2020. During this time, interest has stopped adding up and collections on defaulted debt have been on hold.
Both Biden and former President Donald Trump have taken actions to extend the pause. Biden had previously moved the payment restart date on three different occasions.
When the Biden administration extended the pause from September 2021 to the end of January 2022, it warned that it would be the final extension. But the President pushed back the date again as Covid-19 cases were on the rise during the winter.
People have thoughts about this.
So if Democrats are going to forgive student loans… Does that mean they're going to cut fat checks for people who were responsible enough to pay their loans off?
— Tim Young (@TimRunsHisMouth) April 6, 2022
Biden *says* the economy is roaring under his policies.
But he just extended the "pause" on student loan payments, arguing that affluent college graduates can't be expected to pay what they owe federal taxpayers because they're still struggling economically.
Which one is it?
— Brad Polumbo 🇺🇸⚽️ 🏳️🌈 (@brad_polumbo) April 6, 2022
There are 11.3 million job openings across the United States.
There are 0 reasons for Joe Biden to extend the pause of student loan repayments.
— Lord Julio Gonzalez – juliogonzalez.com (@TaxReformExpert) April 6, 2022
Biden is losing support from younger voters. That’s likely what this is all about.