The Biden administration is pushing forward on multiple fronts in its battle to see through a $500 billion student debt transfer.
about the latest pause extension."But Republican special interests and elected officials sued to deny this relief even from their own constituents. But I'm completely confident my plan is legal."implemented it along with a wave of other COVID-19-related policies. The latest extension is Biden's sixth since taking office and could see the pause last until Aug. 30, three and a half years after its initial implementation.
On the political side, administration officials have heavily criticized Republicans for the legal setbacks. College-educated voters have emerged as a reliably Democratic bloc in recent elections. Proponents of student loan forgiveness are still holding out hope that the program will go through as designed.
Criticisms of Biden's forgiveness program tend to focus on its cost, which has been estimated at between $500 billion and $1 trillion by various scorekeepers, and the fact that it only benefits those who attended college at the expense of blue-collar workers. But the pause itself comes with a hefty price tag.the latest pause extension could cost $40 billion, bringing the grand total for the pause to $195 billion, mostly due to missed payments.
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