BORROWED TIME: The administration announced when payments are expected to resume.
relief for certain borrowers making less than $125,000 per year and up to $20,000 for Pell Grant recipients.Biden announced in August that he will hand out $10,000 of federal student loan debt relief for certain borrowers.
The new announcement comes after Biden in August vowed to end the COVID-era student loan payment pause on Dec. 31, 2022. The announcement comes after the Biden administration last week filed an emergency appeal to the Supreme Court, asking to preserve its order to cancel student loan debt. The Justice Department asked the high court to block previous rulings out of Texas and Missouri that ruled the program unconstitutional.
FILE - Secretary of Education Miguel Cardona said he wants borrowers to know that the administration "has their backs.""We’re committed as ever to fighting to deliver essential student debt relief to tens of millions of Americans," he said, adding that the extension was put in place because"it would be deeply unfair to ask borrowers to pay a debt that they wouldn’t have to pay, were it not for the baseless lawsuits brought by Republican officials and special interests.
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