With inflation up and the midterms looming, the Biden Administration is under pressure to extend the moratorium on federal student loan repayments—and use the extra time to improve how loan repayments work
before payment obligations resume, according to NPR, Democratic congressional aides say this notice to loan servicing companies was likely the Administration’s way of signaling another extension.chief of staff, Ron Klain, indicated on a podcast that Biden was considering whether to use his executive authority to issue some federal student loan forgiveness “before the pause expires, or he’ll extend the pause.
The Department of Education’s draft proposal, the “Expanded Income-Contingent Repayment” program, which itin November 2021, might be a starting point, though Murray’s plan goes further. The proposed text appears to seek building on existing student loan programs that allow eligible borrowers to repay loans on schedules and in amounts based on their incomes and levels of education.
Politics might also be part of the reason Republicans lawmakers, including Republican Senator Richard Burr and GOP Representative Virginia Foxx, both of North Carolina, are eager for the forbearance period to end, despite the fact that it originated in the Trump Administration and its existence is widely popular among voters of all political affiliations.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
America’s Doomsday Plane joins Joe Biden on Europe tripThe aircraft is specially designed to carry the president and his most senior military advisers, maintaining contact with military command centres around the world in the event of a nuclear conflict
Read more »
Biden Says U.S. Would ‘Respond' to Russia If Putin Uses Chemical Or Biological WeaponsPresident Joe Biden said Thursday that NATO would respond 'in kind' if Russia uses weapons of mass destruction in Ukraine. 'We will respond if he uses it,' Biden said, referring to Russian President Vladimir Putin.
Read more »
'Can't even control his own bowels' Jeremy Clarkson slams Joe BidenJEREMY CLARKSON has hit out at Joe Biden, claiming the US President 'hasn't got a clue' what is actually happening in Ukraine.
Read more »
Biden says he would be lucky to face Donald Trump at the next electionUS President Joe Biden said he would be lucky if his Republican predecessor Donald Trump made another bid for the White House in the 2024 presidential election.
Read more »
European stocks inch up ahead of Biden meetings with western allies\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Read more »