Biden administration extends pause on student loan payments until May 1 as omicron surge hits US

[WhiskeyGrinder]

https://apnews.com/article/ap-news-alert-education-d69484fac50027c5e5bb2b70ec0ea992

WASHINGTON (AP) — Biden administration extends pause on student loan payments until May 1 as omicron surge hits US.

Just an alert for now; more coming, I'm sure.

[WhiskeyGrinder]

1. Scheduling it for International Workers Day hands organizers an easy theme, fwiw.

[LonePirate]

2. I'm curious what DU thinks about this and the related student loan forgiveness issue.

I know some, especially on the right (but several on the left as well), are opposed to this and are more fiercely opposed to student loan forgiveness, even if it's "just" $50K. However, this issue is very popular among Americans, especially young, degreed Americans, for obvious Americans. This sub-group has seen a tremendous amount of erosion in Biden's support during the past year so surely this will help, even if only temporarily.

Personally, I support free public education at public colleges, universities, community colleges, trade schools and related work or training centers. Education at taxpayer financed institutions or institutions that directly lead to a trade or job or profession should be free. I'm not supportive of for profit private colleges, especially religious schools such as Liberty University. However, I am willing to be open minded about it and could potentially change my mind.

I also think it is completely absurd how some institutions have endowments worth 10 figures or more and are charging tuition to students. Those endowments can sustain themselves without additional student tuition.

[haele]

3. Student Loans through financial services have become a bubble...

Personally, I like the idea of student loan repayment "holds" where smart grads can pay down the principle which should cut the hell out of the interest due, slowly deflating that bubble so the DoE can untangle loan policy so that there could be a new loan forgiveness policy for students who have public service, non-profit, or intern jobs to start out with.
Maybe we can also see a blanket $10k forgiveness get through congress over the next two years.
And I'm speaking from someone who is going to finally pay off my $75k total BS student loan four years early in about three months due to the pandemic repayment hold, as I put the extra $150 a month interest and every spare penny into paying off the principle.
I'm lucky, I can do that.
Most other graduates, especially the 20 -30 year olds, are not in a financial position to do so.
Why begrudge anyone an education, just because one may have sacrificed "more" for theirs?
My parents didn't begrudge their hard work for our family to have an easier life (relatively), so why should I be jealous of any benefits someone else gets like it was on the back of my hard work or something.
If they use their education to make the world a better place, that's a win-win for me.

Haele

[LetMyPeopleVote]

4. Biden administration extends pause in federal student loan payments another 90 days

Link to tweet

[aocommunalpunch]

5. Good call.

I guess the transition wasn’t going to be smooth. Quelle surprise.

[LetMyPeopleVote]

6. From POTUS Biden

Link to tweet