President Biden isn’t excited about student loan relief …
He is dead against erasing any loan debt himself…..
The Biden Education Dept. IS working to reverse the Trump admin Education Sec DeVos anti-student loan policies….
But ?
It seems the Biden admin is continuing to fight against setting aside loan situation that seem uncollectible….
A pair of recent appeals filed by the department resulted in a public backlash.
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The [Wash] Post reviewed several recent bankruptcy cases involving federal student loans and found that department lawyers remain firm in their opposition. The position echoes that in cases The Post reviewed in July, in which Justice Department lawyers asked borrowers to take on multiple jobs or seek child support to free up money to pay off their loans.
After that reporting, Sen. Richard J. Durbin (D-Ill.), chairman of the Senate Judiciary Committee, held a hearing to explore ways to lower the barriers to discharging education debt. Durbin and Sen. John Cornyn (R-Tex.) sponsored a bill that would allow borrowers to discharge their federal student loans through bankruptcy after 10 years.
The bipartisan interest from lawmakers and the administration in bankruptcy reform is reviving the movement, after years of failed efforts to streamline the process. President Biden, who helped impose tougher consumer bankruptcy laws as a senator, said on the campaign trail he now supports letting people who enter bankruptcy discharge their student debt — a position that girds the department’s efforts….
The President does NOT want to write off any student loan debt….
But is trying to buying time on the subject….
The Biden administration is considering once again extending the freeze on federal student loan payments and interest for roughly 40 million Americans before it expires at the beginning of May, according to a top White House official.
“The president is going to look at what we should do on student debt before the pause expires, or he’ll extend the pause,” White House Chief of Staff Ron Klain said in an interview with the podcast Pod Save America that posted on Thursday evening.
“Joe Biden right now is the only president in history where no one’s paid on their student loans for the entirety of his presidency,” Klain said, adding that the White House would make a decision on whether to use executive action to cancel student debt “before the payments resume.”…
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