Biden administration Expand Student Loan Payments until June 2023
The White House is extending the freeze on federal student loan payments until the end of June 2023.
In an effort to "alleviate uncertainties" for borrowers while the Biden administration fights to implement President Joe Biden's student loan giveaway before the Supreme Court.
In August, Biden indicated that he would provide $10,000 in federal student loan debt relief to borrowers earning less than $125,000 per year, and up to $20,000 to Pell Grant recipients.
On Tuesday, the president stated that he is "certain" that his "student loan reduction proposal is legitimate."
it's on hold because Republican officials want to stop it," Biden tweeted, adding that Education Secretary Miguel Cardona is "prolonging the payment suspension until no later than June 30, 2023."
The new announcement comes after Biden promised in August that the COVID-era student loan payment pause would be lifted on December 31, 2022.
"The student loan payment pause is coming to an end," President Donald Trump said on August 25.
after announcing his executive order cancelling student loan debt for some Americans. " It's time to resume payments."
The announcement comes after the Biden administration filed an emergency appeal to the Supreme Court last week, requesting that its order to cancel student loan debt be preserved.