It's Happening: Iranian Drones Breach Israeli Air Space
Iran Has Begun Its Attack on Israel
Rachel Maddow Is Filthy Rich And Morally Bankrupt
'Our Constitution Was Made Only for a Moral and Religious People:' Part One
Here's What Trump Had to Say About Iran's Attack on Israel
A Quick Bible Study Vol. 213: What the Bible Says About the Sun...
American and Dubai
Setting the Record Straight on Long-Term Care Policy
Nippon Steel Bid to Buy US Steel: Good for US, Good for Japan
US's Happiness Ranking Plummets, but There Are Reasons Christians Should Be Encouraged by...
Texas Holding Universities Accountable on DEI
Iran Threatens the U.S. to 'Stay Away' After Launching Attacks on Israel
Lawmakers Send Stern Message to Biden Amid Iran Attack
How Biden's Failed Policies Led the Way for Iran's Attack
Officials Worry Iran Drone Attacks Against Israel Are 'Decoy' and Will Launch 'Faster...
Tipsheet

White House Expected to Extend Federal Student Loan Repayment Pause Until August

AP Photo/Patrick Semansky

The Biden administration is expected to announce an extension on Wednesday of the federal student loan payment pause until August of this year. According to CBS, a White House administration official familiar with the decision-making confirmed the news. Currently, the payment pause was scheduled to end next month.

Advertisement

Since March 2020, around the start of the coronavirus pandemic, federal student loan payments have been paused for approximately 43 million Americans who owe a combined $1.6 trillion in student debt held by the federal government, according to the Associated Press. In addition, the AP noted that more than 7 million borrowers are at least 270 days behind on payments. 

“Borrowers will not be asked to make payments until after Aug. 31, and interest rates are expected to remain at 0% during that period,” AP noted.

The Biden administration has already extended the pause several times. In December, the student loan repayment pause was extended to May 1. Reports that the administration would extend the pause until August was first reported Tuesday by Bloomberg. 

Several Democratic Senators, including Sen. Elizabeth Warren (MA) and Sen. Patty Murray (WA) has pushed President Biden to extend federal student loan repayments. 

"It is ruining lives and holding people back," Murray wrote in a statement last month. "Borrowers are struggling with rising costs, struggling to get their feet back under them after public health and economic crises, and struggling with a broken student loan system — and all this is felt especially hard by borrowers of color."

Advertisement

Democratic Sen. Sheldon Whitehouse (RI), said on Twitter that the pause “makes a real difference for students & their families.”

Republican Sen. Tom Cotton (AR) said that “Biden’s perpetual student loan payments moratorium is an insult to every American who responsibly paid debts.

“This reckless move puts taxpayers on the hook for billions.”

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement