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Student Loan Payments are back on!! Debt Ceiling 2023!

uh oh. Part of the Debt Ceiling compromise. Even if Biden punts to SCOTUS the loans will be reinstated because of that whole 6-3 thing. What are people supposed to do who cannot pay the money back?

Republicans have long sought to reel back the Biden administration’s efforts to provide student loan relief and aid to millions of borrowers during the coronavirus pandemic. While the GOP proposal to rescind the White House’s plan to waive $10,000 to $20,000 in debt for nearly all borrowers failed to make it into the package, Biden agreed to put an end to the pause on student loan repayment.

Once Biden signs the package, the pause in student loan repayments would end within 60 days.

The fate of student loan relief, meanwhile, will be decided at the Supreme Court, which is dominated 6-3 by its conservative wing. During oral arguments in the case, several of the justices expressed deep skepticism about the legality of Biden’s plan. A decision is expected before the end of June.

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by Anonymousreply 8May 31, 2023 2:13 AM

I've never agreed with the wholesale cancelling of student loan debt. I firmly believe they should keep the loan balances as they are and cancel the interest. That would make it much easier for most people to repay their loans.

by Anonymousreply 1May 29, 2023 9:38 AM

Student loan payments were set to resume in June or 60 days after the Supreme Court ruled no matter what. If republicans consider this a victory (a pause started my Trump), it is a hollow one.

by Anonymousreply 2May 29, 2023 9:41 AM

[quote] several of the justices expressed deep skepticism about the legality of Biden’s plan

Not just justices.

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by Anonymousreply 3May 29, 2023 10:00 AM

You went to college, expect to pay that every one who came before you. We all know this was a con job by Joe to increase his low level popularity.

by Anonymousreply 4May 29, 2023 10:06 AM

The intetest I have seen on student loans is ridiculous. Get rid of the interest per R1.

by Anonymousreply 5May 29, 2023 12:00 PM

WHY are they making us pay for things?!

by Anonymousreply 6May 29, 2023 1:06 PM

[bold]McCarthy clears first hurdle in passing debt ceiling deal: House committee advances bill[/bold]

WASHINGTON − The debt ceiling bill is one step closer to passing in the House.

The House Rules Committee voted Tuesday evening to bring the legislation to the House floor for a vote by the full chamber − a move that marks a significant hurdle for House Speaker Kevin McCarthy, R-Calif., after GOP hardliners on the committee threatened to oppose advancing the legislation.

more at link

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by Anonymousreply 7May 31, 2023 2:05 AM

The student loan payments were already going to resume. I got an email from them a couple weeks ago. They are doing a forgiveness program if you defaulted or if you qualify for working in education. This is not a win for Repubs.

by Anonymousreply 8May 31, 2023 2:13 AM
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