Gage Skidmore from Surprise, AZ, United States of America via Wikimedia Commons

Pressure is reportedly mounting on the Biden administration to do something previously considered unthinkable: make a significant move on student loan forgiveness.

As The Hill reports:


Advocates and lawmakers are stepping up the pressure on President Biden to act on student loan forgiveness, focusing on it as a major issue some warn Democrats could pay for at the ballot box in the upcoming midterm elections.

Biden has been called on to work with Congress on the issue and provide more transparency about his authority to wipe out all federal student debt for millions of Americans. The extension once again of the student loan repayment pause amid record spikes in COVID-19 cases made advocates optimistic that more action will come out of the White House.

“I think the administration needs to engage more with Congress on this because I think there’s real concern,” Sen. Bob Casey (D-Pa.) told The Hill.

Broad-based student loan forgiveness has gained support among Democratic leaders like Senate Majority Leader Charles Schumer (D-N.Y.), who are looking to Biden for support on the issue as the party prepares for a critical election year.

Federal student loan repayments were halted under Biden in the spring of 2020 and have been extended several times since then.




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David T
David T
7 months ago

IDIOT

ElmoColt45
ElmoColt45
7 months ago

Who are the people who are the bureaucrats and the investors and democrats still pushing this student loan fiasco? These universities and Colledge’s the government who over proceed these loans to these young millennials who didn’t read the fine print, now don’t want to pay for these loans! Or they are being pushed by the loan holders so they can get the money somehow! Why not tell the loaners to pay for these loans? The endowments of these Universities and Colledge’s have their money and are spending it on Professors, Buildings, Sports Teams, and the like, why not go to the parents and ask them to pay for their children, or better stop trying to get the taxpayers to pay for their money, STOP THIS DEMOCRATS,

Rick
Rick
7 months ago

The news coverage of this issue repeatedly fails to explain what happens to this debt. If the Biden Administration “forgives” any portion of the debt students lawfully incurred, will the debt holders such as Sallie Mae and Navient, among others, shoulder those write offs 100%? Will that act place these debt holders in bankruptcy? Will federal taxpayers make the debt holders whole? Will this be another situation, similar to the GM bondholder wipeout under the Obama Administration? Let’s see thorough reporting of these possibilities and issues rather than a ‘will he or won’t he’ narrative alone.

Gary
Gary
7 months ago
Reply to  Rick

It took me 14 years, but I paid my student loans in full. Are they going to retroactively forgive my loans?

MARK
MARK
7 months ago
Reply to  Gary

Gary, You learned something in school! They owe you a lot of money. Bad news, Try to get it.