Biden administration extending pause on student loan payments - YouTube Duration 1:04. Yes! Yes! Biden is extending the pause on student loan payments. You know what? I went back to school for a Bachelor's degree this year. It's my first time taking out student loans to pay for education. I must confess that, so far, I haven't had to worry about checking on my loans for details to make sure I'm keeping up with the interest payments I need to make on the unsubsidized loans I have while I'm still in university. For students (and former students) this is a good deal. For lenders not so much. But, at least in my case, my loans are all provided by the Federal Government. So, if the government is hurting anyone it's themselves.
And who is the Government? It is not some abstract entity. It is you and me. https://usdebtclock.org/
This is just a stop-gap measure on the way to full student loan forgiveness, provided that the Democrats hold onto Congress through the next election.
Yawns. It is a time out. Once it expires, people will have to resume payments with interest. Since so many people are in income driven payment plans, what you are really doing is just getting 18 months worth of bigger payments if they are employed and their wages are rising.
Biden doesn't support full forgiveness. In fact, it seems like the amount he is willing to forgive keeps going down. It was $50K now it is $10K which doesn't even cover 1 year's room and board.
