The Department of Education announced Friday a final extension on the pause for student loan payments, which won't start up again until the beginning of next year.
As reported by The Hill, the White House describes the timeline as a definitive end date with no more extensions after Jan. 31, 2022. Federal student loans had first been paused by the CARES Act of March 2020, then former President Donald Trump extended it until he left office in January 2021, and President Joe Biden signed an executive order to extend it to September 2021 upon reaching office.
Secretary of Education Miguel Cardona had this to say on the news:
"The payment pause has been a lifeline that allowed millions of Americans to focus on their families, health, and finances instead of student loans during the national emergency. As our nation’s economy continues to recover from a deep hole, this final extension will give students and borrowers the time they need to plan for restart and ensure a smooth pathway back to repayment."
Accompanying the announcement are signs of plans to formally restart the payment process. However this isn't enough for the progressive stack. As seen by the remarks of Senate Majority Leader Chuck Schumer earlier this week, the left-wing forces in Washington wants the Biden administration to go further.
Yesterday, President Biden extended the eviction moratorium, allowing millions to stay in their homes.
— Chuck Schumer (@chuckschumer) August 4, 2021
Now President Biden should #CancelStudentDebt!
"Yesterday, President Biden extended the eviction moratorium, allowing millions to stay in their homes. Now President Biden should #CancelStudentDebt!" the Senate leader tweeted Wednesday.
In the aftermath of Friday's news about the pause extension, Rep. Ayanna Pressley, Schumer, and Sen. Elizabeth Warren published their demand.
"While this temporary relief is welcome, it doesn’t go far enough. Our broken student loan system continues to exacerbate racial wealth gaps and hold back our entire economy. We continue to call on the administration to use its existing executive authority to cancel $50,000 of student debt. Student debt cancellation is one of the most significant actions that President Biden can take right now to build a more just economy and address racial inequity."
According to NBC, the Education Department is reviewing the White House’s legal authority to wipe out debt by executive action. The news also comes amid the CDC's extension of eviction moratoriums, and lawsuits claiming the Biden administration is acting beyond its legal authority.
Join and support independent free thinkers!
We’re independent and can’t be cancelled. The establishment media is increasingly dedicated to divisive cancel culture, corporate wokeism, and political correctness, all while covering up corruption from the corridors of power. The need for fact-based journalism and thoughtful analysis has never been greater. When you support The Post Millennial, you support freedom of the press at a time when it's under direct attack. Join the ranks of independent, free thinkers by supporting us today for as little as $1.
Remind me next month
To find out what personal data we collect and how we use it, please visit our Privacy Policy
