Biden’s request for the $ 10,000 pupil mortgage to be forgiven, not within the stimulus bundle
President-elect Joe Biden puts on a mask after receiving his second dose of the Pfizer / BioNTech COVID-19 vaccine on January 11, 2021 at ChristianaCare Christiana Hospital in Newark, Delaware.
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High-ranking officials in the new Biden administration say the president-elect continues to support debt relief of $ 10,000 per borrower, though his draft stimulus package unveiled Thursday of $ 1.9 trillion makes no mention of the loan being canceled.
There is also no indication of the extension of the payment hiatus and interest waiver for student borrowers, which are expected to expire this month. An administration representative said last week that Biden would give borrowers more time before they have to resume their payments.
The vast majority – or around 90% – of federal student loan borrowers took advantage of the government’s opportunity to suspend their payments during the pandemic, data shows.
In a recent Pew survey, 6 in 10 borrowers said they would find it difficult to pay their student loan bills again in the coming month.