There are growing signs that Biden is set to extend the student loan pause, and may be preparing to approve some form of wide-scale student loan cancellation, as well. Here's the latest.
Ongoing Inflation Makes Student Loan Pause Extension And Other Relief More Likely
Advocates for student loan borrowers have repeatedly warned that ending the student loan pause amidst soaring inflation could be disastrous for families. The current economic data could provide a clear justification for extending the relief, and potentially establishing new relief for borrowers, as well.Last month, the Biden administration
“The Secretary’s ‘compromise and settlement authority’ includes the authority to compromise and release the student loan debts owed to him by federal student loans borrowers on terms determined by the Secretary,” wrote the Department. Still, the filing provides insight into the administration’s legal arguments that could underpin a decision by Biden to enact wide-scale student loan forgiveness.Last week, Republican Reps.