'There is at least one big win included in this budget deal: It will finally end the insane vacation from student loan payments that is still going on from the pandemic.' -Brad_Polumbo
Way back in March 2020, the federal government “paused” student loan payments, figuring that the harsh economic impact of government lockdowns would mean many borrowers would struggle to make their payments. Yet this policy is still in place more than three years latereven though the economic prospects of college graduates have completely recovered, because Democrats have exploited it as a form of de facto student debt “cancellation” — in other words, a taxpayer-funded bailout.
You see, it’s not just that payments are temporarily paused but that the interest payments are being forgiven entirely, meaning many borrowers havetens of thousands in student debt permanently passed on to taxpayers as a result of this “pause.” Biden has extended it again and again even though he long ago admitted the pandemic was over and ended other COVID-19 policies. This deal will force the Biden administration to restart payments no later than 60 days after the bill is signed. This means that payments would resume as normal in August.
This might not sound like a big deal, but it absolutely is. The continued “pause” on student loan payments, while perhaps initially justified for a few months after COVID-19’s outbreak, is an absolutely disgraceful policy that by August will have
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