Will Biden Extend the Student Loan Payment Pause and for How Long?

The Biden administration is keen on extending the pause on student loan payments beyond October, just before the election. A few weeks before the election, Mr. Biden can be expected to announce a large debt forgiveness program to begin shortly after the election on November 8.

Does It End the Government Bailout?

Many are questioning when this student loan pause will come to an end. There is a sentiment, especially among the taxpayer pool, that those who took out student loans to become qualified employees should now pay these off with their increased earning potential.

Is Debt Forgiveness the Solution?

While there is a push from the progressive wing to provide debt relief, it seems unlikely that President Biden will achieve complete debt forgiveness. Therefore, the best he can do in the short term is to avoid loan repayment through emergency coronavirus relief measures.

Who Should Bear the Burden?

The argument against student loan forgiveness is that those who are fortunate enough to be employed, like Representative Alexandria Ocasio-Cortez (AOC) who makes $74,000 annually and drives a new Tesla, should be responsible for their own debts. Critics argue that it is wrong for those working in less lucrative positions to fund others' education.

Long-Term Implications

As long as Biden continues to find ways to avoid the repayment of student loans, it will likely continue until a future administration takes office. Democrats, in particular, are more concerned with maintaining power than with the well-being of disgruntled borrowers. This situation places Joe Biden in a position to gain votes by promising more relief.