Wednesday, June 19, 2024

Biden Extends Student Loan Pause — AGAIN

'We have sent this approval to your loan servicer... '

(Molly Bruns, Headline USA) Despite declaring that the pandemic is over, President Joe Biden has once again extended the pause on student loan payments, this time until to August 30 of 2023, as his debt cancellation plan works its way through the courts.

The pause on debt payments, which was put into effect in March 2020 under former President Donald Trump, will remain in effect unless the Supreme Court drops the case against the cancellation plan.

According to the Daily Wire, Trump and Biden have extended the pause a total of seven times combined. The current pause will expire on Dec. 31 unless extended.

Pausing student loan payments costs $5 billion per month; extending the pause would cost as much as $120 billion. In total, the payment pause has cost $275 billion.

However, Biden recently stated in a 60 Minutes interview that the “pandemic is over,” which was one of the crutches used to justify the freeze on loan repayments.

“If you notice, no one is wearing masks,” he said. “Everybody seems to be in pretty good shape.”

Since Biden made the unexpected announcement, his administration officials are attempting to cover for him and continue to push the importance of masking and vaccinations. The extended loan pause falls nicely into line as another way to keep their tyrannical powers in place.

Biden even went as far as signing an agreement that would require international travelers to obtain vaccination passports in the event of another outbreak. The administration also ordered $20 billion worth of stay-at-home test kits a few days after the interview.

The regime’s student loan forgiveness would expel $10,000 of debt per borrower, provided they earn less than $125,000 per year.

The program is on hold after a ruling from the Court of Appeals for the Eighth Circuit took the case levied by Republican state attorneys general. The group of AGs assert that Biden breached his executive power by failing to consult Congress on the matter.

Regardless of this fact, the Department of Education has been moving forward with the cancellation plan.

Borrowers received an email from Education Secretary Miguel Cardona saying whether they were “eligible for student loan relief” after a review of their application.

“We have sent this approval to your loan servicer,” the message read. “You do not need to take any further action.”

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