The pause in student loan repayments had been slated to end May 1.
The Biden administration is expected to announce an extension of the federal student loan payment pause Wednesday, according to an administration official familiar with the White House's decision-making. The move would delay the repayment of student loans until August 31. The payment pause was previouslyRoughly 37 million student loan borrowers have been in limbo for several months over whether the payment pause would be extended.
Earlier this month, White House Chief of Staff Ron Klain said the decision on whether there could be forgive student debt through executive action was going to be made before the payments resume or the president would extend the pause. The Committee for a Responsible Federal Budget, which had called for the student loan payments to resume, estimated extending the pause would cost an additional $50 billion per year.
"Income-driven repayment plans are effectively loan forgiveness plans," Kantrowitz said."They forgive the remaining debt after a number of years in repayment."
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.
As loan pause lifts, average Hoosier owes $33,000 with some auto payments starting May 1Twenty-one senators and 75 members of the US House sent a letter to President Joe Biden asking his administration to push back the May 1 date.
Read more »
5 common egg cooking mistakes you may be makingWispy poached eggs? Broken yolks? Curdled batter? Here are five key things you may be doing wrong with your eggs — and they’re all easy to fix.
Read more »
Police searching for 16-year-old girl from Maple Heights missing since May 2021The National Center for Missing & Exploited Children is asking for the public’s help to locate a 16-year-old girl from Maple Heights who was last seen almost 11 months ago.
Read more »
A Documentary About José Andrés Will Stream on Disney+ This May | Washingtonian (DC)A documentary about José Andrés’s humanitarian efforts with World Central Kitchen is coming to Disney+ this May.
Read more »
AMD may launch a new cheap GPU, but don't get too excited | Digital TrendsAMD is allegedly working on an even more budget-friendly GPU, the Radeon RX 6300. The card may arrive as part of the AMD RDNA 2 refresh soon.
Read more »
January 6 Committee Says Criminal Referral on Trump to DOJ May be UnnecessaryRep. Adam Schiff: “There is credible evidence that the former President is engaged in criminal conduct, and I don’t think that can be ignored by the Justice Department.”
Read more »