While student loan repayments are currently set to resume on May 1, the White House is reportedly considering the pause’s extension. Though, the big question still remains: will student loans be canceled?
Sen. Elizabeth Warren of Massachusetts continues her push for the Biden administration to cancel $50,000 in student loan debt for borrowers.
“Canceling $50,000 of student-loan debt would help tens of millions of Americans,” Warren recently told Mehdi Hasan on MSNBC. “People whose only sin was to be born into a family that couldn’t write a check for them to go to school and who nonetheless got out there and tried to get an education.”
While May 1 is right around the corner, progressive lawmakers and democratic advocates reportedly are urging President Joe Biden to cancel debt for 43 million borrowers, especially if the student loan pause doesn’t continue, Insider reported.
Nevertheless, Ron Klain, the White House’s chief of staff, recently told “Pod Save America,” Americans can expect more student loan relief, suggesting the pause may go on past May 1.
“The president is going to look at what we should do on student debt before the pause expires, or he’ll extend the pause,” Klain said. “The question whether or not there’s some executive action on student-debt forgiveness when payments resume is a decision we’re going to take before payments resume.”
Politico reported the Education department was told to stop sending out letters about upcoming repayments, another indicator the pause may continue.
During his campaign, Biden promised to cancel $10,000 in student loan debt. While some students are under specific guidelines, borrowers are still waiting on his administration to deliver on this promise.
The president expressed concerns he wouldn’t be able to take executive action on canceling student loan debt, in the past explaining he’s trying to work with Congress on the matter.
Opponents argue not only has he not delivered on the campaign promise but $10,000 also isn’t enough. Hence, Warren’s continued advocacy of the government forgiving up to $50,000 per borrower.
Though, an Education Department spokesperson recently told Insider the administration is still committed to providing millions of borrowers with relief.
“From Day One, the Biden-Harris Administration has been committed to providing meaningful relief to student loan borrowers including the 41 million borrowers who have saved tens of billions as a result of the extended student loan payment pause,” the spokesperson told Insider. “The Department will continue communicating directly with borrowers about federal student loan repayment by providing clear and timely updates. The Department’s Federal Student Aid office will also continue communicating regularly with servicers about the type and cadence of servicer outreach to borrowers.”
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