President Biden Tuesday extended the moratorium on federal student loan repayments through June 30 as courts review his plan to forgive up to $20,000 in student debt to certain borrowers.
WASHINGTON — President Biden on Tuesday extended the moratorium on federal student loan repayments through June 30 as courts review his plan to forgive up to $20,000 in student debt to certain borrowers.
Biden announced the delay in a video message posted to Twitter, saying he was “completely confident my plan [to forgive debt] is legal” but that “it isn’t fair” to resume loan payments as challenges appear destined for the Supreme Court. “I’m confident that our student debt relief plan is legal. But it’s on hold because Republican officials want to block it. That’s why [Education Secretary Miguel Cardona] is extending the payment pause to no later than June 30, 2023, giving the Supreme Court time to hear the case in its current term,”The president added in his video message that “payments will resume 60 days after the pause ends.”.
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