Student Loan Repayments Extended Again, Until January 2022
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Right bruh, the shit been known for the past few months... I see @Supersav had nothing to say in this thread until today... Thread been open for a minute and conveniently he makes an appearance today... Troll shit
Right bruh, the shit been known for the past few months... I see @Supersav had nothing to say in this thread until today... Thread been open for a minute and conveniently he makes an appearance today... Troll shit
Crazy thing, most people screaming cancel student loan debt, never even started paying in the first place....
I wasn't surprised and while I would love to have them joints cancelled, there are ways to get over the red tape and get them joints paid and done...
Exactly... It's been 2 years of relief, not sure how long people were expecting or wanted student loans to be on pause... It was good while it lasted... I just hope people used that time to improve their credit and try at best to get their finances in line...
@Supersav feel free to jump back in the convo rather than lurk and troll
I'm here what's up
Ain't no what's up, you can clearly see what the responses are to your baseless trolling... Figured you'd have nothing relevant to bring to the table, but wanted to ensure you saw what was said and give you a chance to respond...
You don't get it so any kind of productive conversation is futile. Let me simplify. Biden did what most politicians do and that was make a bunch of promises for votes only to go back to the same ol shit once elected. None of his measure were going to gradually improve the life of anybody. A few months of not having to pay student loans isn't a life changer. Eliminating loans and or cash is
The whole student loan system needs to be overhauled before they try to wipe away student debt.
The US is the only country that has made getting a education a for-profit business and putting young people in deep debt that they spend their entire adult life trying to pay off.
The US is the only country that has made getting a education a for-profit business and putting young people in deep debt that they spend their entire adult life trying to pay off.
December 21, 2021 - 04:51 PM EST
Biden mulling student loan freeze extension
White House press secretary Jen Psaki on Tuesday suggested President Biden could extend a pandemic freeze on student loan payments and interest accrual.
During a Tuesday briefing at the White House, Psaki told reporters Biden has not yet decided whether he will allow millions of Americans to forgo student loan payments at no additional cost beyond Jan. 31.
Biden in August extended an order initially issued by former President Trump in March 2020 to pause due payments and interest on federally held student loans through the end of next month. The administration said it would likely be the last extension of the order, and Psaki all but ruled out another extension in a press conference two weeks ago.
"We're still assessing the impact of the omicron variant, but a smooth transition back into repayment is a high priority for the administration," Psaki said on Dec. 10.
Even so, Biden has faced intense pressure from progressives not only to extend that pause, but also cancel a significant chunk of federally held student debt. Democratic lawmakers have warned Biden not to begin collecting debt payments as the economy braces for another potential hit from the pandemic amid an otherwise strong recovery.
"Restarting student loan debt payments would take more than $85 billion dollars out of our economy next year. We're still in a pandemic and people are still struggling. @potus shouldn't restart payments and should use his authority to #CancelStudentDebt," wrote Sen. Elizabeth Warren (D-Mass.), a leading advocate for student loan forgiveness, in a Tuesday tweet.
Roughly 44 million Americans owe the federal government a combined $1.6 trillion in student loans. Progressive lawmakers and activists have urged Biden to forgive up to $50,000 per borrower through executive action, insisting the president has the legal authority to do so without congressional approval.
Biden has asked administration officials to review his legal authority to forgive student debt through executive order and has said he would sign a bill passed to forgive up to $10,000 per borrower. Even so, Congress is highly unlikely to pass a debt forgiveness bill with almost all Republicans and notable contingent of Democrats - including Speaker Nancy Pelosi (D-Calif.) - opposed to a debt wipeout.
thehill-com.cdn.ampproject.org
Biden mulling student loan freeze extension
White House press secretary Jen Psaki on Tuesday suggested President Biden could extend a pandemic freeze on student loan payments and interest accrual.
During a Tuesday briefing at the White House, Psaki told reporters Biden has not yet decided whether he will allow millions of Americans to forgo student loan payments at no additional cost beyond Jan. 31.
Biden in August extended an order initially issued by former President Trump in March 2020 to pause due payments and interest on federally held student loans through the end of next month. The administration said it would likely be the last extension of the order, and Psaki all but ruled out another extension in a press conference two weeks ago.
"We're still assessing the impact of the omicron variant, but a smooth transition back into repayment is a high priority for the administration," Psaki said on Dec. 10.
Even so, Biden has faced intense pressure from progressives not only to extend that pause, but also cancel a significant chunk of federally held student debt. Democratic lawmakers have warned Biden not to begin collecting debt payments as the economy braces for another potential hit from the pandemic amid an otherwise strong recovery.
"Restarting student loan debt payments would take more than $85 billion dollars out of our economy next year. We're still in a pandemic and people are still struggling. @potus shouldn't restart payments and should use his authority to #CancelStudentDebt," wrote Sen. Elizabeth Warren (D-Mass.), a leading advocate for student loan forgiveness, in a Tuesday tweet.
Roughly 44 million Americans owe the federal government a combined $1.6 trillion in student loans. Progressive lawmakers and activists have urged Biden to forgive up to $50,000 per borrower through executive action, insisting the president has the legal authority to do so without congressional approval.
Biden has asked administration officials to review his legal authority to forgive student debt through executive order and has said he would sign a bill passed to forgive up to $10,000 per borrower. Even so, Congress is highly unlikely to pass a debt forgiveness bill with almost all Republicans and notable contingent of Democrats - including Speaker Nancy Pelosi (D-Calif.) - opposed to a debt wipeout.
Biden mulling student loan freeze extension
White House press secretary Jen Psaki on Tuesday suggested President Biden could extend a pandemic freeze on student loan payments and interest accrual.
Pause on student loan payments is extended through May 1
The Biden administration on Wednesday extended a student loan moratorium that has allowed tens of millions of Americans to put off debt payments during the pandemic. Under the action, payments on federal student loans will remain paused through May 1. President Joe Biden said financial...
I'm not sure if Biden can win in 2024 as is. But, if he lets these loans go back into effect I don't think there's any way he wins. People will just stay at home.
Not sure. I think if his administration can implement REAL EDCUATION REFORM, then he or the DEMS may have a chance. This is definitely moving in the right direction esp. for those who are paying their student loans. Sucks for people who are in deferment though esp. if you work for a qualified employer. Bitch Betsy Devo would have laughed at doing this.
Education reform while states in the south are removing books from libraries lol. Good luck with that one. I think biden needs voters rights, student loan cancellation and to reschedule weed to get reelected. It's the young people that are at stake and if those things aren't done I dunno.
The point of all this debts is to keep people enslaved. Free but indebted is the game. Class warfare. The pandemic has let the cat out the bag and that student debts, living wage, universal health care, UBI etc can all be done and the quality of life of all people in this country can vastly be improved. It is intentional not do anything because the goal is to always pacify and crush labor .
The only reason it is being extended is because of public pressure. If the public keeps pressure and keeps these people scared then a lot can be accomplished. The problem is that it takes time.to.get many people on the same page.
The only reason it is being extended is because of public pressure. If the public keeps pressure and keeps these people scared then a lot can be accomplished. The problem is that it takes time.to.get many people on the same page.
EDUCATION
Biden to erase defaults for millions of federal student loan borrowers
Education Department plans a 'fresh start' for borrowers as White House extends payment pause through August.
President Joe Biden said he was extending the moratorium on most federal student loan payments through the end of August to give borrowers extra time “to get back on their feet after two of the hardest years this nation has ever faced.” | Getty / Getty Images
By MICHAEL STRATFORD
04/06/2022 10:56 AM EDT
The Biden administration on Wednesday moved to expunge the defaults of millions of federal student loan borrowers who fell behind on payments before the pandemic, as the White House formally unveiled a four-month extension of the pause on monthly loan payments and interest.
In a statement, President Joe Biden said he was extending the moratorium on most federal student loan payments through the end of August to give borrowers extra time “to get back on their feet after two of the hardest years this nation has ever faced.”
The extension until Aug. 31 is far shorter than what many Democrats had requested. A wide range of progressive and more centrist Democrats had urged the administration to continue the pandemic relief for borrowers until at least the end of the year, which would avoid having payments restart just before the November midterm elections.
Join us for a live conversation on student loan payments
What are the pros and cons of these repeated extensions? What are the proposals for eventually restarting payments? Tune into our Twitter Space today at 4 p.m. ET with our reporter Michael Stratford, Bipartisan Policy Center’s Shai Akabas and a few expert guests.
“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,” Biden said, adding his administration would provide “additional flexibilities and support for all borrowers.”
Among those additional actions is a sweeping plan to pull millions of federal student loan borrowers out of default.
The administration will allow “all borrowers with paused loans to receive a ‘fresh start’ on repayment by eliminating the impact of delinquency and default and allowing them to reenter repayment in good standing,” the Education Department said in a separate statement on Wednesday.
Psaki: President ‘has not ruled out’ wide scale student loan debt cancelation
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POLITICO first reported in October that the Biden administration was looking at plans to automatically pull millions of borrowers out of default on their federal student loans, which officials had internally labeled “Operation Fresh Start.”
Administration officials have been working through the details on that proposal for months. The deliberations have been complicated, in part, by how the Education Department plans to fund the program, according to several people familiar with the discussions.
An Education Department official confirmed to POLITICO that the agency would be automatically erasing the defaults of all borrowers covered by the pandemic-related pause. That includes borrowers who owe federal student loans that are directly held by the Education Department as well as borrowers who defaulted on federally-guaranteed student loans made by private lenders.
Roughly 8 million borrowers are in default on those types of federal loans, according to previously released data from the Education Department.
A group of Senate Democrats, led by Sens. Elizabeth Warren of Massachusetts and Raphael Warnock of Georgia, last year called on the administration to remove defaults from all federal student loans. More recently, Sen. Patty Murray (D-Wash.), the chair of the Senate education committee, also urged the Education Department to take that action.
Biden announces pause on federal student loan repayments through August 2022
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Lawmakers argued the Education Department has the power to do so because the CARES Act allowed defaulted borrowers to count the pandemic-suspended payments toward the nine months of payments that are typically required for a borrower to bring their loans out of default through a process known as “rehabilitation.”
Borrowers usually must fill out paperwork with a debt collection firm to start that process, but Democrats are pushing the administration to nix that requirement—which it appears the Education Department plans to do.
The department plans to release more information about how the program will work in the “coming weeks,” the department official said.
Biden said that despite the strength of the economic recovery, “we are still recovering from the pandemic and the unprecedented economic disruption it caused.”
People credit scores about to boost
Good, but the interest from the loans continue to accumulate, though...if he stopped that too, it would help people even more...
If I'm not mistaken the interest is also paused... Sidenote, wouldn't be surprised if they extended it again right before August and extend it to the end of the year... All apart of the game of trying to gain positive attention and votes for Midterms... Dirty game, but at the very least it's for sure helping a lot of people and families
Correct. All interest is paused as well.
None of this is what it seems. The student loan debt is about to crash bigger than the housing market in 2008. They have to prop it up a little longer. Check out SLABS and the derivatives of the SLABS. All this fuckery is blowing up at the same time. Crazy times to come.
Would you care to elaborate on that? If not point me in the direction where I could read/learn more
Yeah I would like to know more as well.
Here is a start. Shows these student loans have pretty much always been a subprime moneymaker for institutions. The problem is it is going bust and being propped up so it won’t collapse much of Wallstreet.
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