Why is Biden extending the student loan repayment pause?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:He should've just extended to January 2023. Pretty dumb to restart loan payments right before midterms.

You can’t take back an extension once committed. Shorter gives him wiggle room.

The extension ending on Sept 1 gives them the opportunity to apply some form of forgiveness right before the midterms.

Let's see if they have the guts to do it.

More likely another extension through year end.

[Anonymous]

I'm not complaining. The fact we don't have to pay on my husband's student loans means we've been able to pay cash for our college student (and we don't get a break on tuition). Which means our college student is not going to have loans. So that's a win for everyone as far as I'm concerned.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:He should've just extended to January 2023. Pretty dumb to restart loan payments right before midterms.

You can’t take back an extension once committed. Shorter gives him wiggle room.

The extension ending on Sept 1 gives them the opportunity to apply some form of forgiveness right before the midterms.

Let's see if they have the guts to do it.

More likely another extension through year end.

But why not just do that now? Seems silly to waffle around in August and build up anxiety about whether or not it will be extended. Further, it would be political idiocy to restart loan payments right before the Midterms.

My guess is that they will offer a form of loan forgiveness in September. Probably income-tested and only for a nominal amount like $10-15K.

[Anonymous]

Anonymous wrote:Pay what you owe. Unemployment is near where it was pre-pandemic. There are literally no more excuses for these freebies. Do you know why there's inflation? Because there is too much money everywhere. Making people pay what they owe is one way to reduce too much consumption that's driving so much inflation. That may be an unpopular view, but it's true. US household wealth and savings has exploded during the pandemic due to multiple stimuli and huge amounts of money printing. Time to take money out of the system and make people pay their bills.

Sorry but fiscal conservatives have zero political power while us student debtors have the ability to sit at home and allow Ron Desantis to assume dictatorship in 2024. We aren't going to pay, and if we are it will be at 0% interest.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:He should've just extended to January 2023. Pretty dumb to restart loan payments right before midterms.

You can’t take back an extension once committed. Shorter gives him wiggle room.

The extension ending on Sept 1 gives them the opportunity to apply some form of forgiveness right before the midterms.

Let's see if they have the guts to do it.

More likely another extension through year end.

But why not just do that now? Seems silly to waffle around in August and build up anxiety about whether or not it will be extended. Further, it would be political idiocy to restart loan payments right before the Midterms.

My guess is that they will offer a form of loan forgiveness in September. Probably income-tested and only for a nominal amount like $10-15K.

See the prior comment for your answer.

[Anonymous]

Anonymous wrote:

Anonymous wrote:He should've just extended to January 2023. Pretty dumb to restart loan payments right before midterms.

You can’t take back an extension once committed. Shorter gives him wiggle room.

No, not dumb. It will be extended again and he'll be able to get a lot of good press on it in September right before the election.

[Anonymous]

Anonymous wrote:Pay what you owe. Unemployment is near where it was pre-pandemic. There are literally no more excuses for these freebies. Do you know why there's inflation? Because there is too much money everywhere. Making people pay what they owe is one way to reduce too much consumption that's driving so much inflation. That may be an unpopular view, but it's true. US household wealth and savings has exploded during the pandemic due to multiple stimuli and huge amounts of money printing. Time to take money out of the system and make people pay their bills.

You are barking under the wrong tree. It’s the fault of the Fed, as in Federal Reserve and not Federal Government. It unloaded shit load of digital dollars indiscriminately for too long and Sat fat and happy as inflation was going up. It is the responsibility of Federal Reserve To control inflation and unemployment within certain limits and take timely and prudent actions if either of them goes out of limits. Federal Reserve is late in starting to tighten money supply. So it will have to hurry up and take multiple stronger actions (increase interest rates in larger increments and more frequently and for longer time) to try to tame the increasing inflation, but instead, it may plunge the US economy into a recession.

[Anonymous]

So if and when student loan payments resume they will be higher due to rise in interest rates?

[Anonymous]

Anonymous wrote:So if and when student loan payments resume they will be higher due to rise in interest rates?

Only if you don’t have a fixed rate. Most student loans have a fixed rate.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:He should've just extended to January 2023. Pretty dumb to restart loan payments right before midterms.

You can’t take back an extension once committed. Shorter gives him wiggle room.

The extension ending on Sept 1 gives them the opportunity to apply some form of forgiveness right before the midterms.

Let's see if they have the guts to do it.

More likely another extension through year end.

But why not just do that now? Seems silly to waffle around in August and build up anxiety about whether or not it will be extended. Further, it would be political idiocy to restart loan payments right before the Midterms.

My guess is that they will offer a form of loan forgiveness in September. Probably income-tested and only for a nominal amount like $10-15K.

They will either extend or forgive in August. If he did it now it won’t be at the top of peoples minds by November.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:He should've just extended to January 2023. Pretty dumb to restart loan payments right before midterms.

You can’t take back an extension once committed. Shorter gives him wiggle room.

No, not dumb. It will be extended again and he'll be able to get a lot of good press on it in September right before the election.

“Good press” in the sense that extending the repayment pause will make the people who were already going to vote for him happy?

[Anonymous]

This is just typical government kicking the can down the road in dramatic public view.

Once you create a program, it's almost impossible to kill it, and always best to pay for it later too... for as long as you can, until you can't.

[Anonymous]

So that's a win for everyone as far as I'm concerned.

Not for the taxpayers or for the cause of personal responsibility.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:He should've just extended to January 2023. Pretty dumb to restart loan payments right before midterms.

You can’t take back an extension once committed. Shorter gives him wiggle room.

No, not dumb. It will be extended again and he'll be able to get a lot of good press on it in September right before the election.

“Good press” in the sense that extending the repayment pause will make the people who were already going to vote for him happy?

I think its going to piss off as many people (or more) than it makes happy. And the people it pisses off actually pay substantial taxes, unlike the deadbeat freeloaders.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:He should've just extended to January 2023. Pretty dumb to restart loan payments right before midterms.

You can’t take back an extension once committed. Shorter gives him wiggle room.

No, not dumb. It will be extended again and he'll be able to get a lot of good press on it in September right before the election.

“Good press” in the sense that extending the repayment pause will make the people who were already going to vote for him happy?

I think its going to piss off as many people (or more) than it makes happy. And the people it pisses off actually pay substantial taxes, unlike the deadbeat freeloaders.

Liberty University is the largest single issuer of federal student loans.

Are you saying the conservative families who send their kids to those schools and are benefitting the most from these programs are “deadbeat freeloaders”?