President Joe Biden on Monday declined to extend a program that suspended student loan payments during the pandemic.
Students will be expected to return to making payments beginning February 1st. White House press secretary Jen Psaki told Forbes:
We will engage directly with federal student loan borrowers to ensure they have the resources they need and are in the appropriate repayment plan. The Department of Education is already communicating with borrowers to help them to help to prepare for return to repayment on February 1.
The suspension of payments benefitted about 41 million borrowers, the White House added. But the far-left Democrats have called on Biden to continue the extension to protect the “financial devastation of millions of borrowers.” Those members include Senate Majority Leader Chuck Schumer (D-NY) and Sen. Elizabeth Warren (D-MA).
During Biden’s presidency, the administration has forgiven $12.5 billion of student loan debt for nearly 640,000 students. And as of January 31, 2022, “student loan borrowers will have received $110 billion of student loan cancellation from 22 months of temporary student loan forbearance,” Forbes reported.
But the forgiveness and delay of billions in debt are not good enough for many on the left.
“I worked full time, Monday through Friday, and took weekend classes to get my law degree,” Rep. Rashida Tlaib (D-MI) stated on the House floor. “And still, close to $200,000 in debt. And I still owe over $70,000, and most of it was interest.”
Tlaib hauls in about $175,000 a year from her congressional paycheck.
Follow Wendell Husebø on Twitter @WendellHusebø
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