Speaking to reporters at the White House Wednesday afternoon, Press Secretary Jen Psaki was asked about what the Biden administration is doing to combat inflation as costs on everyday items like food and energy continue to skyrocket.
In her answer, Psaki listed extending the moratorium on student loan repayments as a way the administration has eased the burden of inflation on American families.
Jen Psaki cites pausing student loan payments as a strategy that Joe Biden has taken to fight inflation. pic.twitter.com/Yq9vIPI1JH
— Townhall.com (@townhallcom) April 27, 2022
The statement comes as Biden reportedly considers redistributing student loan payments from those who took out the loans to hardworking American taxpayers. As Spencer reported yesterday:
After taking heat from those on the left flank of his party for not embracing their calls for the federal government to "forgive" student debt — that is, reward mostly upper-class Americans who made poor financial decisions while saddling all Americans with more debt — President Biden is dropping hints that he may be looking to begin the process of wiping away at least some student debt.
In a meeting with members of the Congressional Hispanic Caucus this week, Biden suggested that he would again extend the pause on student loan repayment beyond it's current August end-date in addition to using executive powers to "cancel" the debt of some borrowers.
Meanwhile, Senate Majority Leader Chuck Schumer has also indicated the move is coming.
On the flr, Schumer says cancelling student loans is the only path. Not just a pause. Says after his talks with Biden, the President "is moving in our direction."
— Chad Pergram (@ChadPergram) April 27, 2022