Federal student loan repayments to restart, education secretary confirms

[mystery-ak]

May 13, 2023 9:42am EDT
Federal student loan repayments to restart, education secretary confirms
'We're preparing our borrowers to restart' federal student loan repayments, Education Secretary Miguel Cardona says

By Chris Pandolfo FOXBusiness

The Education Department is "preparing to restart" federal student loan debt repayments after a three-year pause now that the COVID-19 pandemic emergency has ended, Secretary Miguel Cardona told lawmakers this week.

Cardona revealed the administration's intentions at a Senate Appropriations Committee hearing on Thursday, when Sen. Katie Britt, R-Ala., asked him why the government should forgive student loan borrowers when President Biden is demanding that Congress pay its debt obligations in arguments with Republicans over the debt limit. 

Britt, a first-term senator, cited remarks about the federal debt made Monday by White House press secretary Karine Jean-Pierre and asked if Cardona agreed.

"If you buy a car, you are expected to pay the monthly payments. If you buy a home, you are expected to pay the mortgage every month. That is the expectation," Jean-Pierre said.

more
https://www.foxbusiness.com/politics/federal-student-loan-repayments-restart-education-secretary-confirms

[PeteS in CA]

1. Should have resumed a year or two ago.

2. Prog snowflakes will tantrum; will the Department of Education cave or stick to this very belated decision?

[LMAO]

From the article….


"If you buy a car, you are expected to pay the monthly payments. If you buy a home, you are expected to pay the mortgage every month. That is the expectation," Jean-Pierre said.


Lol!!

That’s not what they were saying last year

[mountaineer]

Related:

Brutal new research shows how the government ruined higher education
By Brad Polumbo
May 13, 2023 08:16 AM

From student debt “cancellation” (i.e. taxpayer-funded bailout) to outright socializing higher education, Democrats increasingly support more government intervention in response to the out-of-control cost of college. But we just got even more evidence that government meddling is what produced this problem in the first place.

A new study examined the expansion of federal loans for graduate education that occurred in 2006, which basically removed the limits and let many students borrow up to the full cost of attending. It compares the trajectory of different students who were and weren’t affected by this change to analyze the impact it had. The results are shocking.

The massive expansion of subsidies did not accomplish any of the goals its proponents promised. It had “no effect” on graduate enrollment, meaning it did not enable more students to attend graduate school (suggesting that the previous caps weren’t prohibitive for many people). It also had “no effect” on the “racial and gender composition” of the graduate student body, despite promises that expanded subsidies would enable more minorities to attend grad school. Further, it had “no effects” on either student graduation rates or their future earnings.

That’s right: The benefits were literally nonexistent. Meanwhile, the costs were quite significant. ...

Washington Examiner