As we previously reported, the U.S. Department of Education has extended the payment pause on federal student loans for the sixth time since the pandemic began more than two years ago. Borrowers won’t have to resume paying their bills until September. With payments paused, canceling student loan debt is “still on the table” for the Biden administration, according to White House press secretary Jen Psaki.
She made the comments during an appearance on “Pod Save America” after being pressed about past comments by White House chief of staff Ron Klain, “Yes, still on the table, still on the table,” Psaki says during the live podcast, which was released by the platform on Friday. She went on to point to the Aug. 31 deadline for when the freeze on student loan debt payments and interest accrual is set to lapse. She said: “We have to then decide whether it’s extended.” “Nobody’s had to pay a dollar, a cent, anything in student loans since Joe Biden has been president,” Psaki said. “And if that can help people ease the burden of costs in other parts of their lives, that’s an important thing to consider. That’s a big part of the consideration,” The Hill quotes.
Now, as many are aware, during Biden’s campaign he called for federal student loan debt cancellation, and supported forgiveness of at least $10,000 per borrower. He said during his campaign: “You get all these degrees and you get all this debt, and you get in a position where you can’t get a job because no one is hiring, or they’re hiring at very low wages… I’m going to eliminate your student debt if you come from a family [making less] than $125,000 and went to a public university.” Biden also said, “I’m going to make sure everyone gets $10,000 knocked off of their student debt.” pandemic.” However, some top Democrats including Senator Bernie Sanders have pushed for him to go beyond that, canceling up to $50,000 per borrower or wiping out federal student loan debt entirely.
So What’s The Hold Up?
Psaki said in the interview that Biden’s preference “from the beginning” has been legislation because “bills are more permanent” than executive action. She argued that it could be undone in the future by another president if it’s not a bill. “The courts and, God forbid, there’s a Republican in the White House one day, I mean, they can overturn these things,” she said. “This is the thing with executive actions — you can go back and forth and overturn them, and obviously we want something in any of these cases where it’s more permanent.”
Press Play Below For More On Forgiving Student Loan Debt: