President Biden is extending student loan payments yet again.
The extension comes as a way to buy time as the President’s student loan forgiveness plan remains in limbo as it is looked at by federal courts.
“It isn’t fair to ask tens of millions of borrowers eligible for relief to resume their student debt payments while the courts consider the lawsuits. For that reason, the Secretary of Education is extending the pause on student loan payments while we seek relief from the court,” President Biden said.
The pause on the payments will lift 60 days after the Supreme Court issues a decision or 60 days after June 30th–whichever comes first says the U.S. Department of Education.
As PNC previously reported, President Biden’s student loan debt relief program hit a wall as a Texas Judge ruled it “unlawful” as Biden did not follow federal procedures by not getting public comment prior to unveiling the program.
The debt relief program aims to cancel $20,000 in debt for individuals who received Pell Grants in college, and $10,000 for borrowers as long as they meet the threshold of earning less than $125,000 or $250,000 as a married couple.
Just last week, the Biden administration asked the Supreme Court to overturn the recent ruling. In a tweet, President Biden said, “I’m confident that our student debt relief plan is legal. But it’s on hold because Republican officials want to block it.”
In an interview with Newstalk K57 with Patti Arroyo, Gov. Lou Leon Guerrero expressed her support for the program saying, “It’s something that will help our students and their financial burden and their struggle to make ends meet so it’s a very good… worthy… support in financial aid. I am very supportive of it.”
Contact Jannette Samson | E-mail: jannette@spbguam.com | Phone: 671-689-2842
