Yves is here. Although people can hope that this student loan relief measure will come true, let us not deceive ourselves. Please pay attention to the faltering timing of Biden. He has been dealing with the bank for a long time. Unless he goes through a strict economic investigation, it is extremely unlikely that his heart will cancel the debt. But Biden or at least his economic advisers must realize that Manchin is cracking down on the BBB in its current form, especially when he said hIf the extension of the childcare tax credit ends, e will support a transaction, Will quickly impact low- and middle-income families. One thing that Biden can quickly restore some of the needs in the economy (recall that before Omicron tracked the land, both confidence and personal income have fallen), even if it is not for the same person, it is keeping the brakes on student loan payments.

Therefore, while progressives may wish to view this shift as a concession to them, it is easy to see it as a way to get more stimulus in the economy and some praise for it.

Originally published on Common dream

According to reports, the Biden administration is considering another extension of the suspension of federal student loan payments scheduled to end on February 1. This is a shift facing the White House. Increasing pressure From progressive legislators and grassroots advocates.

politicsMichael Stratford Report On Tuesday, the Ministry of Education “expressed that it might postpone” its plan to restart monthly student loan payments at the beginning of the new year.

This move would be a major reversal for the government, which said it August decision Postpone the resumption of payments until February 1, “This is the final extension of the suspension of student loan repayments, interest, and collection.”

The Ministry of Education told Stratford that the announcement regarding the suspension of payments will be issued “later this week.” White House Press Secretary Jen Psaki Say On Tuesday, “The President has not yet made a decision.”

The Debt Collective, a group that promotes the cancellation of all outstanding federal student loan debts, Tweet In response, “Extending the student loan suspension means that people can stay at home, put food on the table, save for retirement, take medicine or maintain business.”

“The extension will be a good and welcome decision. You should do it,” the organization added, directing its position to President Joe Biden. “Then cancel the student debt.”

Representative Ayanna Pressley (D-Mass.) sent a similar message:

This is a welcome news and definitely the right choice.

Extending the suspension period will help millions of borrowers and their families survive this ongoing pandemic.@POTUS This critical lifeline must be extended & #Cancel student debt Use pen strokes. https://t.co/K5TFvcSzOu

-Ayanna Pressley (@AyannaPressley) December 21, 2021

Senator Elizabeth Warren (D-Mass.) also weighed the issue on Tuesday afternoon.

“Restarting repayment of student loan debt next year will cost us more than $85 billion in economic losses,” Warren Say In a tweet. “We are still in a pandemic and people are still struggling. Biden should not restart payments, but should use his power to #CancelStudentDebt.”

IMHO, @POTUS -You promise to cancel your student loan debt.

Payments will resume in the New Year, and our community is not yet ready for this. If you don’t take action, you will spend $85 billion in people’s pockets next year.

Cancel. student. debt.

-Congresswoman Corey Bush (@RepCori) December 21, 2021

In recent days, White House officials have publicly stated that they will not extend payment and interest suspension. Pusa told reporters earlier this month that “a smooth transition to repayment is the government’s top priority.”

However, amid the explosion of Omicron variants and the continued economic destruction caused by the pandemic, progressives believe that restarting student loan payments will be a Huge mistake, Bringing additional financial burdens to millions of people, and may undermine the Democratic Party’s hopes of controlling Congress.

“It makes no sense,” Rep. Ro Khanna (California) wrote On Twitter last week. “We are not taxing the super-rich, but letting students in debt pay to increase their income. Terrible substance and terrible politics. We need to do better to win in 2022.”

Roosevelt Institute estimates Recent analysis Before the freeze in March 2020, federal student loan borrowers paid an average of $393 per month.

“As Omicron swept our communities, the number of Covid cases surged. The pandemic is far from over, so it should not be provided with financial relief,” the Congressional Progress Caucus Tweet Tuesday. “Extending the student loan suspension is definitely the right move by the Biden administration-and then continue to cancel them.”