Biden Wants Congress To Extend Eviction Moratorium But Not Increase Student Loan Benefits



President Joe Biden wants Congress to extend the eviction moratorium, but it did not renew the student loan benefits to the millions of student loan borrowers.

Here’s what you need to know.

Student loans

Biden is urging Congress to extend the federal eviction moratorium, which prohibits homeowners from evicting non-rent tenants during the Covid-19 pandemic. The eviction moratorium that helped millions of Americans struggling financially during the pandemic expires on Saturday. The US Supreme Court ruled last month that an act of Congress would be required to extend the eviction moratorium. As Biden calls on Congress to extend the eviction moratorium, the temporary student loan exemption for millions of student loan borrowers expires on September 30, 2021. Student loan borrowers may wonder, “When will Biden extend the student loan exemption?” To date, Biden has not renewed the student loan exemption, which means Student loan payments will resume from October 1st.… Senate Majority Leader Chuck Schumer (New York State) and Senator Elizabeth Warren (Massachusetts) urged Biden to extend the temporary abstinence from issuing student loans until at least March 2022. so that borrowers of student loans have more time to recover from the Covid-19 pandemic. Schumer and Warren are worried about the impending default on student loans, and Warren says that Student Loan Services Unprepared for Student Loan Borrowers to Pay Student Loans Again… Unlike the moratorium on evictions, Biden doesn’t need Congress to act. Biden can extend a temporary grace period for a student loan through executive action, as he did in January for eight months. Why didn’t Biden renew his student loan exemption? Here are some possible reasons why:

1. The student loan exemption does not expire until September 30, 2021, so perhaps Biden is waiting

The eviction moratorium expires on Saturday. However, the student loan exemption does not expire until September 30th. Hence, one of the reasons Biden did not renew the student loan exemption is because there are several months left until the expiration date. Perhaps Biden will wait for a date near the September deadline to make an announcement. Alternatively, Biden could wait to track the economy and the status of the Covid-19 pandemic. So it is possible that Biden Extends Student Loan Benefit Even If Eviction Moratorium And Unemployment Benefit Expires… If Biden extends the Temporary Student Loan Benefit, here’s 5 options he could use


Source link