Biden Reverses on Student Loan Repayment After Pressure from Squad

Biden Reverses on Student Loan Repayment After Pressure from Squad

President Joe Biden on Wednesday reversed final week’s reported choice to renew student loan funds on February 1 after receiving overwhelming strain from the far-left.

Despite Biden’s promise to close down the coronavirus, Biden cited the chaotic omicron variant as the rationale for extending the reimbursement pause for 90 days.

“We know that millions of student loan borrowers are still coping with the impacts of the pandemic and need some more time before resuming payments,” the White House’s assertion learn.

“Given these considerations, today my Administration is extending the pause on federal student loan repayments for an additional 90 days — through May 1, 2022 — as we manage the ongoing pandemic and further strengthen our economic recovery,” Biden stated, admitting omicron has defied his capacity to “shut down the virus.”

Breitbart News reported Monday Biden got here below heavy hearth from members of its personal celebration to increase the debt funds.

Congressional members equivalent to Elizabeth Warren (D-MA) slammed the president for not giving “relief to people who are getting crushed.”

Rep. Alexandria Ocasio-Cortez (D-NY) claimed that Biden may do extra together with his government authority.

“He has been delaying and underutilizing it so far. There is an enormous amount he can do on climate, student debt, immigration, cannabis, health care, and more,” she stated.

AOC

AOC (Getty Images/Win McNamee)

Chair of the Congressional Progressive Caucus Rep. Pramila Jayapal (D-WA) additionally demanded Biden to only use his pen to cancel student loan debt.

“Today would be a perfect day for @POTUS to cancel at least $50,000 of student loan debt per borrower – before crushing payments restart in 44 days. All it takes is a signature,” Jayapal stated.

As of final week, an estimated 41 million debtors have benefitted from student loan debt suspension.

In whole, “student loan borrowers will have received $110 billion of student loan cancellation from 22 months of temporary student loan forbearance,” Forbes reported.

Follow Wendell Husebø on Twitter @WendellHusebø

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