The Biden administration will extend the payment freeze on federal student loans through the end of June 2023 while its forgiveness plan remains blocked by courts.
Maya MacGuineas, president of the bipartisan Committee for a Responsible Federal Budget, says Biden's promises of caring about a fiscal future 'fall flat.'on Tuesday announced that it will extend the pause on federal student loan repayments through June 30 as its broader debt forgiveness plan remains in legal limbo.
The White House's decision to continue the payment moratorium comes in light of a federal appeals court ruling last week that blocked the president'sto cancel as much as $20,000 in debt for some borrowers. Earlier this month, a federal judge in Texas ruled that the loan forgiveness program is "unlawful."
In a video posted to Twitter, President Biden said the extension will give the Supreme Court the opportunity to hear the case on his executive order during its upcoming term. Payments on student loan debt will not be required until June 30 or until 60 days after court challenges to the forgiveness plan are litigated and settled.
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