Biden Declines to Extend Student Loan Relief and Progressives Are Not Happy About It

[mystery-ak]

Biden Declines to Extend Student Loan Relief and Progressives Are Not Happy About It
Leah Barkoukis

Posted: Dec 14, 2021 7:00 AM

The Biden administration has declined to extend student loan relief, with payments kicking in again February 1, 2022—a move that has progressives pushing back.

In a letter to the president last week, more than 200 advocacy groups urged Biden “to put a stop [to] this crisis in the making before it begins and extend the current pause on student loan payments.”

“It is clear that payments should not resume until your administration has fully delivered on the promises you made to student loan borrowers to fix the broken student loan system and cancel federal student debt,” the letter added.

Progressive lawmakers have also joined the calls.

A group of U.S. senators — including Senate Majority Leader Chuck Schumer (D-NY) and Sen. Elizabeth Warren (D-MA) — say that Biden must extend student loan relief to avoid financial disaster for more than 40 million student loan borrowers. The senators say that restarting student loan payments will cause significant financial stress in the wake of the ongoing Covid-19 pandemic. Specifically, they cite a Roosevelt Institute study that shows that failure to postpone student loan payments beyond January 31, 2022 will cost student loan borrowers $85 billion. They argue that 9 million student loan borrowers in default could be subject to wage garnishment and other debt collection methods if student loan payments resume. In addition to seriously damaging the economy, the senators note that Black and Latinx households would face a disproportionate burden from resuming student loan payments.  (Forbes)

more
https://townhall.com/tipsheet/leahbarkoukis/2021/12/14/student-loans-payments-restarting--chasten-buttigieg-n2600517

[Kamaji]

It's very simple:  make student loans dischargeable in bankruptcy on the same terms as an ordinary unsecured business loan.

[DefiantMassRINO]

The deadbeats will have to pay their debts and bills.  I'd cry, but the government taxes my tears ... for the children.

[mystery-ak]

https://twitter.com/RepAdamSchiff/status/1471149976667500551

[The_Reader_David]

It's very simple:  make student loans dischargeable in bankruptcy on the same terms as an ordinary unsecured business loan.

 

Spot on.

As to the 'Rats plan for just forgiving a chunk of student loans, I fully expect it to happen, but timed to maximize its influence on the 2022 mid-terms, meaning implemented so the reduction in payments due shows up during the month before the earliest start of early voting in any state, with a series of campaign ads touting it and vilifying Republicans for something only tangentially related already in the can and ready to show the moment it's done.

[Kamaji]

 

Spot on.

As to the 'Rats plan for just forgiving a chunk of student loans, I fully expect it to happen, but timed to maximize its influence on the 2022 mid-terms, meaning implemented so the reduction in payments due shows up during the month before the earliest start of early voting in any state, with a series of campaign ads touting it and vilifying Republicans for something only tangentially related already in the can and ready to show the moment it's done.

Agreed.  They fully intend to use it as a quid-pro-quo to "buy" votes in the 2022 elections.

[Killer Clouds]

Agreed.  They fully intend to use it as a quid-pro-quo to "buy" votes in the 2022 elections.

Yeah they will promise student loan forgiveness and if they get elected they won't do it so they can use the same broken promise in 2024.

[DefiantMassRINO]

What about the crisis of the Government confiscating 50% (total burden of combined federal, state, and local taxes) of my gross income to redistribute to lazy, stupid, slothful, and deadbeat college hipsters?

I didn't attend full-time, 4 year, liberal arts college because I couldn't afford it.  I didn't see a positive value proposition in accumulating debt that I couldn't restructure nor eliminate in bankruptcy court.  That's a debtors' prison without bars.

I don't see the Government helping me welch on my mortage, nor working to reduce my overall tax burden.

Every time the Goverment siezes more of my earnings, it's mugging me.

[mystery-ak]

Gutfeld blasts AOC, fellow squad member Tlaib over their student loan debt: ‘Screw you – that’s on you!