.SenBillCassidy and SenJohnThune introduced an act to forcibly end the federal pause on student loan payments. In August, Biden announced the pause would end on Dec. 31 of last year. He later extended the pause until after June 30, 2023.
and John Thune introduced the Stop Reckless Student Loan Actions Act, which would forcibly end the federal pause on student loan payments that has been in place since the onset of the COVID-19 pandemic in March 2020, on Thursday.“President Biden is unfairly transferring the burden from those who willingly took on loans to those who did not,” said Cassidy, the ranking member of the Senate Health, Education, Labor, and Pensions Committee.
Thune and Cassidy's bill is also co-sponsored by Sens. John Barrasso , Katie Britt , Kevin Cramer , Joni Ernst , Chuck Grassley , Roger Marshall , Rick Scott , and Tim Scott . The bill was introduced in the 117th Congress as President Joe Biden repeatedly extended the pause on federal student loan payments that began in the last year of the Trump administration. In August, the president announced a plan to forgive up to $20,000 in student loans for all borrowers who make less than $125,000 and directed the pause to end on Dec. 31 of last year.
But as legal challenges held up the loan forgiveness plan, Biden again extended the pause until after June 30, coinciding with the resumption of payments with the end of the Supreme Court term. The high court is scheduled to hear oral arguments in the case challenging the legality of the loan forgiveness plan on Feb. 28.“Taxpayers, especially working families, should not be responsible for bearing the costs associated with President Biden’s federal student loan suspension,” Thune said.
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