FILE - President Joe Biden speaks about student loan debt relief at Delaware State University, Oct. 21, 2022, in Dover, Del. Biden is facing mounting pressure to extend a pause on student loan payments after his cancellation plan suffered a pair of legal blows. Advocates say Biden should continue the pandemic-era payment pause until legal issues are resolved.
The freeze has already cost the federal government more than $100 billion in lost revenue, according to the Government Accountability Office. Critics such as the Committee for a Responsible Federal Budget are warning that another extension could worsen inflation and raise the risk of economic recession.
“Honestly, there’s a lot of frustration toward the Biden administration. I think that they anticipated that there would be legal challenges to the student loan cancellation,” she said, calling the court challenges “to be expected.” Nearly 26 million people already have applied for the debt relief, out of an estimated 43 million eligible. The Education Department stopped accepting new applications Friday“We’re fighting them in court,” he said. We’re not letting them get away with it.”
Supporters say they still have faith that Biden’s plan will survive, despite predictions that it could go before a Supreme Court that has shifted to the right and curbed Biden’s authority in other decisions. They argue that the Higher Education Act, a sprawling federal law, already gives the president wide power to cancel federal student debt.
Yeah, no. Get a job. He’s created so many!!