Biden Will Extend Student Loan Payment Pause For 4 Months

    Photo: Win McNamee/Getty Images [via Business Insider]

    The Facts

    • On Tues., the Biden administration announced it will pause federal student loan payments until Aug. 31. The delay will be the seventh since the pauses began early in the pandemic.

    • It comes less than a month before payments were scheduled to restart, affecting tens of millions of borrowers, including 35 million who have not made payments that otherwise would have been due.

    The Spin

    Progressive narrative

    Generations of students shouldn't be plagued with years of debt for attending higher education. Biden risks alienating younger voters if he continues not to deliver on the campaign promises that got him elected.

    Right narrative

    Canceling student debt would be shortsighted and unfair to the majority of Americans who will ultimately be stuck paying the bill for a debt many chose not to accumulate. Student loan borrowers shouldn't be receiving relief from taxpayer dollars, they should be better prepared to understand the costs of a loan before taking it on.

    Nerd narrative

    The Metaculus Community predicts there is a 22% chance the US will forgive $10K of student debt per person before 2024.

    Public figures in this story

    Joe Biden

    Joe Biden

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