PoliticsWhite House Extends Pause on Student Loan Payments Until...

White House Extends Pause on Student Loan Payments Until Next Year


The Biden administration on Tuesday prolonged the pause on federal pupil mortgage funds, saying it needs to provide the Supreme Court docket time to weigh in on litigation over President Biden’s plan to cancel billions of {dollars} in debt for tens of millions of debtors.

“Callous efforts to dam pupil debt reduction within the courts have prompted super monetary uncertainty for tens of millions of debtors,” Training Secretary Miguel Cardona stated. “We’re extending the cost pause as a result of it could be deeply unfair to ask debtors to pay a debt that they wouldn’t need to pay, have been it not for the baseless lawsuits introduced by Republican officers and particular pursuits.”

The Training Division, which owns and manages the federal government’s $1.5 trillion pupil debt portfolio, stated funds wouldn’t restart till 60 days after the division was legally allowed to proceed with Mr. Biden’s promised debt cancellation.

The division additionally stated that if the courts haven’t resolved the difficulty by June 30, 2023, it should restart funds 60 days later.


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