President Biden is expected to extend his moratorium on federal student loan payments today or tomorrow, Politico reported. According to the article, the new deadline for beginning to repay loans will be Sept. 1.
Many Democrats in Congress and activist groups have been urging the president to completely eliminate loan payments for some students, or to extend the moratorium beyond four months.
“We recognize that extending the payment pause is important to borrowers struggling to shoulder the harm caused by the pandemic, economic shocks, and inflation. However, President Biden’s piecemeal, short-term approach is not enough to meet these challenging times,” said Natalia Abrams, president and founder of the Student Debt Crisis Center.
But some Republicans have criticized any extension of the moratorium. Representative Virginia Foxx of North Carolina, the ranking Republican on the Education and Labor Committee, said, “Hardworking taxpayers are fed up with having their backs broken by this administration. The outrageous extension of this moratorium contradicts the administration’s promise to the American public.”