Biden may extend the student loan payment pause again
Here’s what you need to know.Just when you thought that this would be the final extension of student loan relief, there’s now another sign that student loan payments may not restart after May 1, 2022. Yes,that behind-the-scenes action at the U.S. Department of Education sheds light on what the Biden administration may do next.The U.S. Department of Education reportedly has instructed federal student loan servicers — the companies that manage student loan payments — to).
since becoming president. The U.S. Department of Education announced yesterday that 100,000 more student loan borrowers are now eligible for student loan cancellation due to the changes the Biden administration made to the Public Service Loan Forgiveness program in October. These. This is another big win for student loan borrowers when it comes to student loan forgiveness.
White House Chief of Staff Ron Klain said on a podcast last week that Biden may consider other options for student loan relief. This could include wide-scale student loan cancellation, which Biden previously has said he didn’t believe he has executive authority to enact. Biden has focused on targeted student loan cancellation, but he has called on Congress to pass legislation on $10,000 of student loan cancellation for borrowers.
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