President Joe Biden has reportedly extended the payment pause on federal student loans until after June 30.
“We’re extending the payment pause because it would be deeply unfair to ask borrowers to pay a debt that they wouldn’t have to pay, were it not for the baseless lawsuits brought by Republican officials and special interests,” U.S. Education Secretary Miguel Cardona said.
Federal student loan payments have been frozen since the COVID-19 pandemic hit the U.S. in March 2020. Earlier this year, the Biden administration made an effort to forgive up to $20,000 in loans for individual borrowers. However, the White House initiative has been blocked by the courts and a resolution is expected this spring.
“I’m confident that our student debt relief plan is legal. But it’s on hold because Republican officials want to block it,” President Joe Biden tweeted.
“That’s why [Secretary of Education Miguel Cardona] is extending the payment pause to no later than [60 days after] June 30, 2023, giving the Supreme Court time to hear the case in its current term.”
Adding to President Joe Biden’s tweets, U.S. Education Secretary Miguel Cardona has called efforts to block the administration’s student debt forgiveness program just “plain wrong.”
“Callous efforts to block student debt relief in the courts have caused tremendous financial uncertainty for millions of borrowers who cannot set their family budgets or even plan for the holidays without a clear picture of their student debt obligations, and it’s just plain wrong,” Cardona said.
“I want borrowers to know that the Biden-Harris Administration has their backs and we’re as committed as ever to fighting to deliver essential student debt relief to tens of millions of Americans.”