that could ensure no one receives a dollar of debt relief. The debacle is swiftly becoming a headache for the administration instead of an example of how the president keeps his promises to voters.
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.”