JUST IN: White House Extends Student Loan Repayment Pause Through June 2023 as Bailout Plan Remains in Limbo
The White House on Tuesday extended the student loan payment pause through June 2023.
“I’m confident that our student debt relief plan is legal. But it’s on hold because Republican officials want to block it.” Biden said in a video posted to Twitter on Tuesday afternoon.
“That’s why Secretary 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.” Biden said.
I’m confident that our student debt relief plan is legal. But it’s on hold because Republican officials want to block it.
— President Biden (@POTUS) November 22, 2022
Joe Biden’s student loan bailout plan is currently in limbo after the 8th Circuit Court of Appeals imposed an injunction in response to a legal challenge.
The Justice Department last Friday asked the Supreme Court to intervene and lift the block on Joe Biden’s student loan bailout plan.
Joe Biden unilaterally announced a massive forgiveness of student loans in August to buy the Gen Z-Millennial vote in the 2022 midterms.
Biden canceled up to $10,000 in student debt for borrowers who earn $125,000 a year or less and up to $20,000 for recipients of Pell Grants.
The 8th US Circuit Court of Appeals last Monday extended a block on Joe Biden’s student loan bailout plan.
Biden is extending the student loan payment pause while DOJ lawyers ask the Supreme Court to lift the 8th Circuit Court’s block.