Biden Administration Not Extending Student Loan Relief and Progressives Are Not Happy
“We will engage directly with federal student loan borrowers to ensure they have the resources they need and are in the appropriate repayment plan.”
The Biden administration has announced that the extension on student loan payments is coming to an end. Loan payments are going to come due again starting on February 1st of 2022.
This is a pet issue for progressive Democrats and they are not happy about the decision.
Zack Friedman reports at Forbes:
Biden Won’t Extend Student Loan Relief And Confirms Student Loan Payments Restart February 1
The Biden administration won’t extend student loan relief and confirmed student loan payments restart February 1, 2022.
Here’s what you need to know.
Student Loans
White House Press Secretary Jen Psaki confirmed to reporters during a press briefing that the Biden administration won’t extend student loan relief — and the student loan payment pause will end January 31, 2022. (No, Biden won’t extend student loan relief again). Here are some highlights from her comments:
- “In the coming weeks, we will release more details about our plans”
- “We will engage directly with federal student loan borrowers to ensure they have the resources they need and are in the appropriate repayment plan.”
- “We are still assessing the impact of the Omicron variant.”
- “A smooth transition back into repayment is a high priority for the administration.”
- “The Department of Education is already communicating with borrowers to help them to help to prepare for return to repayment on February 1.”
- “41 million borrowers have benefitted from the extended student loan payment pause, but it expires February 1, so right now we’re just making a range of preparations.”
Elizabeth Warren and other Democrats have been practically begging Biden not to do this.
FOX Business reports:
In a Wednesday letter addressed to the White House, Senate Majority Leader Chuck Schumer, D-N.Y., Sen. Elizabeth Warren, D-Mass., and Rep. Ayanna Pressley, D-Mass., warned that millions of families could be hurt financially and that the economy’s recovery from the pandemic imperiled if Biden does not extend the federal government’s pause on student loan payments.
The lawmakers cited an analysis conducted by the Roosevelt Institute, a progressive think tank, showing that resuming student-loan payments in less than two months will “strip” 18 million borrowers of $7.12 billion a month and $85.48 billion annually over the next year…
“To prevent the student debt crisis from dragging down on our economic recovery, undermining the effectiveness of the American Rescue Plan, and causing unnecessary pain and stress for American families, we strongly urge you to extend the pause on student loan payments and interest and act to cancel student debt,” they wrote in the letter.
Warren urged Biden to cancel student debt during an appearance on CNN this week:
Sen. Elizabeth Warren calls on President Joe Biden to cancel student loan debt TONIGHT.#DonLemon pic.twitter.com/zmOe5AY8tQ
— The Chat (@LiveOnTheChat) December 10, 2021
Rep. Cori Bush of Missouri is already blaming this decision for the outcome of the 2022 midterms:
A note to Democrats who blame progressives after losing an election:
Forcing millions to start paying student loans again and cutting off the Child Tax Credit at the start of an election year is not a winning strategy.
We're warning you now, don't point fingers in November.
— Cori Bush (@CoriBush) December 13, 2021
Democrats had reason to be hopeful about this:
October 2020: “I’m gonna eliminate a lot of your student debt… I’m gonna make sure everybody in this generation gets 10k knocked off of their student debt” pic.twitter.com/DgnVEIykmf
— Libs of Tik Tok (@libsoftiktok) December 13, 2021
This has never been a good idea. You can’t punish the people who paid off their student loans and reward those who didn’t.
DONATE
Donations tax deductible
to the full extent allowed by law.
Comments
Noone should be rewarded for choosing to graduate with a degree in a major that left them unemployable .
400 upticks for your comment.
You must have a humongous paw to do that.
And, you know what they say about bears with big paws…
Big heart?
Leave a trail that’s easy to follow?
Bear paw stew for the whole class?
(Sorry. I know you have a sore paw these days)
I would actually be okay with cancelling studend debt if the schools would be the ones eating the loss instead of the taxpayers. Along with some form of reimbursement to those who paid tuition without taking out student loans.
Make the schools bear the cost since they were the ones who benefited from the excessive tuition.
Most of the money goes to Doctors and Lawyers because their education is the most expensive. And, they can afford to pay it back.
My small town Dr still has young kids. He recently told me that even he can’t afford the $40k/year health insurance premiums for his whole family
Plus, the tens of thousands it has cost him to keep up with new technology
But, given his age, I’d wager that his loans were paid long ago
Can’t he, like, do physical exams on the kids himself, and if they need surgery, get a discount from the hospital? Does even a doctor have to go in thru the front door of our healthcare system?
Maybe the profound thinkers of the Democrat Party should package complete forgiveness of all student debt with a general amnesty for illegal immigrants and call it the ‘Drop Dead, Deplorables” Act.
BOO HOO.
Poor babies. You signed those loan papers. Don’t ask me to repay your debts, deadbeats.
I keep getting emails telling me to make sure I’m in the right repayment plan because payments start up again in March.
That’s okay. There’s a funny thing about education that the left keeps ignoring in this discussion. Yes, it costs a lot of money. It also comes with significant benefits.
My degrees helped me get a nice, high-paying job. Also, I was raised to believe in paying my debts. So I will. I don’t need a government hand out, thank you very much.
I would actually be okay with cancelling studend debt if the schools would be the ones eating the loss instead of the taxpayers. Along with some form of reimbursement to those who paid tuition without taking out student loans.
Make the schools bear the cost since they were the ones who benefited from the excessive tuition.
This is one result when you spend public money lavishly on higher education. You create a group of parasites who contribute nothing to society and who do nothing except take take take.
No – “parasite” is the wrong word. A successful parasite does not kill its host. What you have on college campuses is a cancer that is killing society.
Student loan business allow the government more control. Now they have a carrot.
Those who chose wisely and invested their ed $ into worthwhile fields like engineering won’t have a problem. On the other hand those who meandered around academia for a decade before earning a PhD in x studies, didn’t make the cut as a corporate diversity consultant and now sling drinks at a *bucks are back to reality.
I suspect a large portion of the Covid panic porn is self reinforcing from the tweets, posts and online presence of some of these 18 million folks who wasted money and time who want to use Rona as the excuse not to pay it back.
This is Fuck joe biden* you’re talking about.
He lies.
A lot.
He’ll “change” his mind next year and forgive X amount of all loans.