The White House plans to once again Extend the Moratorium on Federal Student Loan Payments, with an Announcement set to come as soon as this week. The current Pause is set to Expire May 1st. The Extension will be through the End of August.
The new Time Frame, which would be considerably Shorter than what some Democrats have been advocating. Just last week, nearly 100 Lawmakers, led by Sen. Elizabeth Warren (D-MA) and and Majority Leader Sen. Chuck Schumer (D-NY), sent a Letter to Biden asking him to Extend the pause until at least the end of the year.
Susan Rice (D), the President’s Domestic Policy Adviser, as Key in the Negotiations securing the Extension. “Since the beginning of the Administration, she has advocated for each pause on the repayment of student loans, including this most recent one,”.
A Range of Dems have urged the White House to Extend the Pause on Payments through the end of 2022, which would be long enough to avoid requiring Borrowers to make Payments just before the Midterm Elections.
Many Progressives want the Payment Pause Extended as a Precursor to wide-scale Debt Cancellation, that they want the White House to pursue through Executive action.
Centrist Dems, some of whom are up for Reelection this year, generally don’t support Broader Debt Cancellation, but have called on the Administration to Extend the Repayment Moratorium into 2023.
NYC Wins When Everyone Can Vote! Michael H. Drucker
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