President Biden Provides More Relief With Extended Student Loan Freeze
April 11, 2022
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1:14Now PlayingPresident Biden Provides More Relief With Extended Student Loan Freeze
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as posted by the channelStudent loans have been frozen again. Check out the video to learn more.
Welcome back to Bold TV with David Grasso. Be sure to like, comment, and subscribe to Bold TV for all things Bold.
President Biden has announced that the Student Loan Freeze will be extended until August 31, 2022. And this has been going on since March 2020, with no interest, no payments, and no penalties for the 43 million borrowers with federally backed loans. Furthermore, the government has rescued around seven million debtors who have defaulted on their loans, providing them with a second chance.
Will these decisions make people happy? Student debt freezes aren't the stimulus check or universal basic income that many hard-core progressives desire, but they are an olive branch.
Remember, President Biden campaigned on reducing the staggering level of student debt, which is expected to reach $2 trillion in the near future. Still, no student debt forgiveness has occurred, but the freeze demonstrates that the administration is willing to kick the can down the road in order to assist borrowers in recovering.
August 31st falls just before the midterm elections. As a result, student loan forgiveness is likely to be a defining issue for young people in the upcoming elections.
Do you think this was the right move by the Biden administration? Let us know what you think in the comments below!
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