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Should Biden Cancel Student Loan Debt?

Here’s the Scoop

Pressure is mounting on President Joe Biden over his administration’s plans to require student loan payments to resume for millions of Americans in the coming weeks.

As of February 1, 2022, the pandemic forbearance on student loans ends, and the White House is facing widespread criticism as progressives implore them to push back the date or forego it entirely.

“This is going to be a hard blow to people who have struggled throughout this pandemic. It’s the wrong move,” Sen. Elizabeth Warren (D-MA) said.

Then-President Donald Trump initially paused student loan payments in March 2020, an order which both the Trump and Biden administrations extended.

With the extension’s end looming, many Americans look to the Biden administration, as student debt cancellation was a big part of his presidential platform. Press secretary Jen Psaki’s remark on the situation was tremendously unpopular.

“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 last week.

In February, Biden pushed to cancel up to $10,000 in student loan debt for individuals, saying he was “prepared to write off the amount.” Many critics take issue with his failure to follow through on campaign promises, including student debt cancellation.

Still, the administration pushes forward with plans to resume payments on February 1.

Sen. Raphael Warnock (D-GA) led a group of lawmakers in sending a letter calling on the White House to waive interest on federal student loans.

“I’m for the most extensive relief we can get for students. I mean, I think this is really bad for the economy,” said Sen. Ron Wyden (D-OR), who signed the letter.

Source: Middle America News

1 Comment

1 Comment

  1. Sharon Taylor

    June 23, 2023 at 11:39 am

    Why should I pay off somebody else’s debt when I didn’t make the loan? If you can’t find a job that in in the field for which you studied, it’s a YOU problem. In the future, are you going to expect
    taxpayers to pay off the overpriced house/car loans because “It’s too expensive and I’ll be in debt forever”.

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