Tuesday, June 18, 2024

Student loans Are Coming Due – Are You Ready to Pay the Bill When President Biden Restarts Them? (Opinion-Watch)

*Attorney Antonio Moore discusses federal student loan payments being restarted by President Biden’s administration.

Moore looks at the Biden on-ramp program allowing later reporting to collections.

He delves into the part grandparents & parents play in servicing college debt.

And lastly critiques the role Biden played in creating the student debt crisis over decades as a senator.

Student loans - Depositphotos
Student loans – Depositphotos

In other student loan news, earlier we reported that Joe Biden canceled more student loan debt than any other President. It’s a notable fact that’s flown under the radar.

Taking a piecemeal approach, the Biden administration has expanded existing loan forgiveness programs for borrowers who work in the public sector, those who were defrauded by for-profit colleges, and borrowers who are now permanently disabled.

Those moves have delivered significant relief to more than 700,000 borrowers, totaling more than $17 billion. Yet some voters feel misled by the President, who had supported canceling $10,000 for each of the 43 million federal student loan borrowers while on the campaign trail.

“He’s not delivering on his promise,” said Jennifer Lewis, a 57-year-old nurse practitioner in Washington State who has about $80,000 in student loan debt.

“If he were to run again, I would think twice about voting for president at all,” added Lewis, a self-described “super progressive.”

Lionel Siongco (Heather Fulbright-CNN)
Lionel Siongco, a student loan borrower, is disappointed that Biden hasn’t canceled more student debt. / Lionel Siongco (Heather Fulbright-CNN)

Biden is also facing a drumbeat of pressure from some key Democratic lawmakers who are urging him to do more and cancel $50,000 per borrower.

That puts Biden in a tough political spot as Americans are struggling with rising inflation in a midterm election year. The administration is planning to extend a pandemic-related pause on federal student loan payments that had been set to resume May 1, CNN has reported.

Get the rest of this EUR/CNN story on student loans, HERE.

MORE NEWS ON EURWEB: New Book ‘I Dare You to Love Yourself’ Encourages Black Women to Love Who They Are!

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