White House Plans To Extend Student Loan Moratorium (Again)
Apr 5, 2022 16:58:02 GMT -5
Post by shalom on Apr 5, 2022 16:58:02 GMT -5
White House Plans To Extend Student Loan Moratorium (Again) As Midterms Loom
BY TYLER DURDEN
TUESDAY, APR 05, 2022 - 03:45 PM
The notion that student-loan forgiveness is being weaponized by Democrats as a means of essentially buying the loyalty of an entire generation (or at least the upper-middle-class members of said generation) isn't anything new. Indeed, we have discussed it in detail as recently as late last month.
But despite this transparent attempt to curry favor with educated liberals (already the Dems political base), the Biden Administration is preparing to go back to the well once more during an election year.
After moving to forgive some student loan payments, the Biden Administration has yet again reportedly decided to extend its moratorium on student loan payments.
This time, the moratorium (which was previously slated to expire in May) will be extended through the end of August, just before Americans head to the polls for the midterm elections.
Here's more from Politico, which broke the news of the Administration's plans (an Administration insider later confirmed the plan to the AP):
The White House plans to once again extend the moratorium on federal student loan payments through the end of August, according to multiple people familiar with the matter, including an administration official.
The announcement, expected on Wednesday, comes as the current pause on payments was set to expire May 1, potentially impacting more than 40 million Americans. The new August 31 extension, however, is considerably shorter than what many Democrats have been requesting. It also tees up another fight over the relief just months before the midterm elections.
As Politico readily admits, this latest extension has a pretty obvious political dimension, thus improving Democrats' shrinking chances of hanging on to both houses of Congress. This fact will likely trigger backlash from Republicans, who started the moratorium under President Trump.
Continued at link
BY TYLER DURDEN
TUESDAY, APR 05, 2022 - 03:45 PM
The notion that student-loan forgiveness is being weaponized by Democrats as a means of essentially buying the loyalty of an entire generation (or at least the upper-middle-class members of said generation) isn't anything new. Indeed, we have discussed it in detail as recently as late last month.
But despite this transparent attempt to curry favor with educated liberals (already the Dems political base), the Biden Administration is preparing to go back to the well once more during an election year.
After moving to forgive some student loan payments, the Biden Administration has yet again reportedly decided to extend its moratorium on student loan payments.
This time, the moratorium (which was previously slated to expire in May) will be extended through the end of August, just before Americans head to the polls for the midterm elections.
Here's more from Politico, which broke the news of the Administration's plans (an Administration insider later confirmed the plan to the AP):
The White House plans to once again extend the moratorium on federal student loan payments through the end of August, according to multiple people familiar with the matter, including an administration official.
The announcement, expected on Wednesday, comes as the current pause on payments was set to expire May 1, potentially impacting more than 40 million Americans. The new August 31 extension, however, is considerably shorter than what many Democrats have been requesting. It also tees up another fight over the relief just months before the midterm elections.
As Politico readily admits, this latest extension has a pretty obvious political dimension, thus improving Democrats' shrinking chances of hanging on to both houses of Congress. This fact will likely trigger backlash from Republicans, who started the moratorium under President Trump.
Continued at link