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Student Debt Provision in Biden-GOP Deal Could Be 'Catastrophic,' Campaigners Warn

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'What if payments begin and millions—literally millions—of people default on their debt?' StrikeDebt asked. 'What if seniors get their Social Security checks garnished en masse?'

to end the student loan repayment pause 60 days after the Supreme Court decides the fate of student debt cancellation or 60 days after June 30—whichever comes first.

"Because of Covid's impact, the Biden admin said returning to repayment needed to be coupled with relief," the group wrote."If SCOTUS rules student debt relief is legal, Biden can say he took action on student debt—the second-largest household debt in the country. The problem is, WE DON'T KNOW what SCOTUS will rule. We're still waiting. Basically this debt ceiling deal puts the cart before the horse.

 

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