The whole program IS a mess anyways…
But due to the virus everything was on ‘hold.’…
That ‘hold’ expires in October if Congress doesn’t extend it…
Like the ‘Borg’ the loans are impossible to get rid off…
They are easy to get and impossible to f get rid off ….
Of course if you have no job?
Ya can’t pay the loan….
If u don’t pay the loan the orginal amount just keeps going up like a runaway elevator….
I’m sure that even though Democratic Presidential candidates said they actually ‘waive ‘ a good amount of the loans?
That won’r actually happen…..
The economy could use the money….
The federal government’s emergency relief for more than 40 million student loan borrowers is set to expire at the end of September, amid sky-high levels of unemployment and an overall economy still stifled by rising coronavirus cases.
The looming end of the benefits also comes with a clear political dilemma in an election year: Unless Congress or the Trump administration intervenes, the Education Department will demand monthly loan payments from tens of millions of borrowers in October, just before they head to the polls. The department is already preparing to send warnings to borrowers, starting Aug. 15, about the expiration of their benefits, according to people familiar with the plan.
“People have now priced into their family finances not having to make a student loan payment during this crisis,” said Mike Pierce, who worked on student loan policy at the Consumer Financial Protection Bureau during the Obama administration. “Restarting these payments six weeks before the election seems like a fast way to alienate tens of millions of voters with student loans.”
Both Republicans and Democrats have touted the student loan relief, which was included in the CARES Act in March, to their constituents over the past several months. But it’s not yet clear whether they will come to a bipartisan agreement in the coming weeks on what to do when the sweeping reprieve for borrowers comes to an end.
Congress is now debating ways to avert the student loan cliff in October as it begins negotiating another economic rescue package. Lawmakers are already poised to blow past deadlines to extend other benefits in the CARES Act, such as expanded unemployment payments and protections from housing evictions….