Biden management extends suspension on student loans
In recent months, Mr. has been pushing for tougher action on student loans. Biden did not respond, saying he was reluctant to consider administrative action to forgive large-scale student debt. But last week, Vice President Kamala Harris spoke publicly about the need to provide relief to borrowers.
During an interview Ms Harris said, “I had student loans Radio and TV presenter Charlemagne Tha God. “I mean, look, now we have a lot of people, tens of thousands of people in the United States dealing with education loans and obligations, and it’s a barrier to them starting or buying a family. A house. It’s real, we have to deal with it.
On Wednesday, the White House sought to add pride to Ms Harris’ role in persuading the president to approve the extension. Conversations with advisers, including Ms. Harris, led Mr. to extend the ban. White House spokeswoman Jen Zhaki said the move was a step in the right direction. Ms. said the president’s risky social spending plan was not the main reason for the student loan extension.
“The president has thought a lot about this over the last several days,” Ms Psaki said, adding that conversations with Ms Harris “led to the decision to extend it until May.”
According to the Department of Education, the Biden administration has already written off some loans through high-target measures, including more than $ 7 billion for those with “gross and permanent disability” – which has wiped out nearly $ 13 billion in debt for nearly 640,000 borrowers.
Activists applauded the administration’s decision.
“The Biden administration has thrown a lifeline to student borrowers in the face of the economic and public health realities,” said Mike Pierce, managing director of the Student Borrower Protection Center. “This is a necessary step for borrowers to float.
People who are struggling to repay their education loans are told that the extension will only be effective if it is temporary.