Biden Makes BIG Decision On Student Loan Debt

Gage Skidmore from Peoria, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons

Did Biden submit to the far-left Democrats?

It appears President Joe Biden is listening to lawmakers who have been calling for an extension of student loan repayments, announcing on Wednesday (April 6), that the student loan repayment pause would continue until August 31.

On Wednesday, the White House announced that the Biden administration would be pausing the repayment requirements on student loans until August 31 of this year. President Biden also said in a statement that the U.S. is “still recovering” from the years-long COVID-19 pandemic, making it necessary to extend the loan payment leniency.

While campaigning to become President, Biden promised voters that he would cancel up to $10,00 of student debt per borrower, a figure progressives say should be $50,000. However, in Wednesday’s statements, neither the White House nor Biden addressed whether student loan debts would be canceled, despite fresh calls from lawmakers to follow through with his promises.

Instead, Biden conceded to a different demand from lawmakers by extending the repayment freeze instated by former President Donald Trump in May 2020.

In his statement about the extension, Biden said, “If loan payments were to resume on schedule in May, analysis of recent data from the Federal Reserve suggests that millions of student loan borrowers would face significant economic hardship, and delinquencies and defaults could threaten Americans’ financial stability.”

In the months before his inauguration, Biden said there would be “immediate” congressional action regarding student loans, promising borrowers “$10,000 forgiveness of student loans.”

Since taking office, Biden has avoided taking action on this promise, something Rep. Alexandria Ocasio-Cortez addressed when chatting to FOX Business.

Discussing Biden’s poor polls, Ocasio-Cortez acknowledged that it is “actually young people who have not really been served,” adding that the decision to forgive student loan debt is “squarely in [Biden’s] jurisdiction.”