As resumption of educational debt repayment looms, more than 7 in 10 borrowers say they are taking on extra work, while half say they don't know whether they'll be able to make payments come October.
As I said, he could have instructed them to just not act on or pursue any payments. Let Congress vote to force the executive to do something deeply unpopular.
If the next president reverses the order, then all these people are in the same position and might owe additional interest. Banks know this, so they will hold it against anyone seeking credit. Congress doesn’t even have to vote.
With the income based repayment, they aren’t considered delinquent on their loans, interest doesn’t build, and there is a path towards having the debt forgiven eventually.
Biden not only wanted too, but he made sure he had a backup plan. He found a loophole in Clinton era legislation that allows a president to create income based repayment plans. It’s not quite forgiveness, but it’s the best he can do with Republicans controlling the house. https://apnews.com/article/student-loans-debt-college-cancellation-forgiveness-34152bb5000128a413efd2287887a37a
If you want true loan forgiveness, vote Democratic.
As I said, he could have instructed them to just not act on or pursue any payments. Let Congress vote to force the executive to do something deeply unpopular.
If the next president reverses the order, then all these people are in the same position and might owe additional interest. Banks know this, so they will hold it against anyone seeking credit. Congress doesn’t even have to vote.
With the income based repayment, they aren’t considered delinquent on their loans, interest doesn’t build, and there is a path towards having the debt forgiven eventually.
If
The Democrats controlled both the house and the Senate for a time and didn’t get it done, or am I misremembering the Democrats controlling both?
When you take Sens Manchin & Sinema into concideration, their control was very weak. It’s a miracle the got the IRA done. It was a big F*ing deal.