Education Secretary Miguel Cardona was pressed at a House committee hearing on whether the White House plans to extend the student loan pause.
As the Supreme Court decides on what to do with President Joe Biden’s proposed student debt relief plan, Education Secretary Miguel Cardona suggested that student loan payments could soon resume.
“We communicated that after the Supreme Court decision is made, loan repayments will start within 60 days of the decision,” Cardona told the panel. President Biden's plan calls for borrowers with incomes of up to $125,000 to receive up to $10,000 in federal student loan forgiveness. That amount increases to $20,000 for borrowers who received Pell Grants.In March 2020, the Trump administration placed a pause on mandatory federal student loan payments due to COVID-19. The Biden administration continued the pause.
"Regardless of one’s view on the merits of Biden's loan cancellation plan, it is dangerous to ignore the substantial likelihood that judicial rulings will end the payment pause, strike down cancellation, or both. Failing to prepare at-risk borrowers for these outcomes is irresponsible and may inflict more harm on those who have already spent years struggling with burdensome student debt," the group said.
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