tHere is another extension to freeze Student loan payments In the United States of Americagiving more time to those who need to pay for their education.
The Biden Management decided to extend the moratorium on payments, which took effect in March 2020 when the COVID-19 pandemic began and families were struggling to make ends meet.
Why is my student loan payment suspended?
The news is related to the fact that BidenThe student loan forgiveness program has been restricted in the courts.
Officials had told those who were borrowing that the forgiveness program would be implemented before loan repayments resumed in January 2023.
This particular extension of the moratorium is set to last up to 60 days after the litigation is resolved. According to the Department of Education, if it is not implemented and the details are not resolved by June 30, 2023, payments will resume 60 days after that.
What did Joe Biden say about the Student Loan Forgiveness Program?
president Biden He posted a video to Twitter on Tuesday talking about the Student Loan Forgiveness Program.
“I am absolutely confident that my plan is legal, but it is not fair to require tens of millions of borrowers eligible for forgiveness to resume student debt payments while the courts hear the lawsuit,” Biden He said.
The forgiveness program has become a hot topic in the courts in America. The Department of Justice recently asked the Supreme Court to step in and reinstate the program while legal challenges are carried out.
The program was originally canceled by a lower court judge in Texas in November.
as such Biden He explained, the temporary stay on payment gives the Supreme Court an opportunity to hear the case during its current term.
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