{"id":150445,"date":"2021-01-09T02:52:00","date_gmt":"2021-01-08T23:52:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/biden-administration-to-extend-student-loan-payment-pause-on-day-one-transition-officials-say\/"},"modified":"2021-01-09T02:52:00","modified_gmt":"2021-01-08T23:52:00","slug":"biden-administration-to-extend-student-loan-payment-pause-on-day-one-transition-officials-say","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/biden-administration-to-extend-student-loan-payment-pause-on-day-one-transition-officials-say\/","title":{"rendered":"#\n  Biden administration to extend student loan payment pause on day one, transition officials say"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3cc546776f1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3cc546776f1\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/biden-administration-to-extend-student-loan-payment-pause-on-day-one-transition-officials-say\/#The_freeze_was_originally_set_to_expire_on_Jan_31_11_days_after_Biden_takes_office\" >The freeze was originally set to expire on Jan. 31, 11 days after Biden takes office<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/biden-administration-to-extend-student-loan-payment-pause-on-day-one-transition-officials-say\/#Jillian_Berman\" >Jillian Berman<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Biden administration to extend student loan payment pause on day one, transition officials say<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"The_freeze_was_originally_set_to_expire_on_Jan_31_11_days_after_Biden_takes_office\"><\/span>\n  The freeze was originally set to expire on Jan. 31, 11 days after Biden takes office<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000124612\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Once in office, President-elect Joe Biden will extend the coronavirus-era payment pause on student loans, a member of his transition team told reporters Friday.\u00a0<\/p>\n<p> \u201cOn day one, the president-elect will direct the Department of Education to extend the existing pause on student loan payments and interest for millions of Americans with federal student loans,\u201d David  Kamin, a Biden transition adviser,  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/i\/broadcasts\/1djGXqwyjlEJZ\" class=\"icon none\">told reporters<\/a>.\u00a0<\/p>\n<div class=\"paywall\">\n       The pause on student loan payments and collections was set to expire on Jan. 31, just 11 days after Biden takes office. Congress didn\u2019t address the student loan payment pause in the $900 billion COVID relief package lawmakers passed in December.\u00a0<\/p>\n<p>And the uncertainty surrounding whether the new administration would extend the pause had some advocates and student loan companies worried that officials would face too short of a window to set in motion the operationally complex task of extending the freeze without ensnaring some borrowers in administrative or financial headaches.\u00a0<\/p>\n<p>\u201cWe were marching towards a cliff,\u201d said Persis Yu, the director of the Student Loan Borrower Assistance Project at the National Consumer Law Center. Yu and others have worried for months that borrowers weren\u2019t financially ready to resume student loan payments, given the continued economic devastation wrought by the pandemic.\u00a0<\/p>\n<p>\u201cThe fact that he intends to extend the payment pause on day one is certainly a huge relief,\u201d Yu said.\u00a0<\/p>\n<p>The announcement will also make it easier for servicers, the companies the Department of Education hires to manage the student loan repayment process, to prepare for the complex task of moving forward the date they\u2019re required to start collecting payments from tens of millions of student loan borrowers, said Scott Buchanan, the executive director of the Student Loan Servicing Alliance, a trade group.\u00a0<\/p>\n<p>Practically, servicers can\u2019t actually take the steps to move the date forward until they receive the official directive from the Department of Education, Buchanan said. Still, \u201cthat kind of advanced notice is helpful to us in operationally making sure that we are prepared to make it very smooth when it does get officially communicated,\u201d he said.\u00a0<\/p>\n<p>\u201cThe big challenge for us has been being able to anticipate what is going to occur here,\u201d he added.\u00a0<\/p>\n<p>Despite the assurance offered to both borrowers and student loan companies Friday, some uncertainty remains. Most basically, how long borrowers will get a reprieve from payments. Yu said she hopes the administration will extend the freeze at least through September or perhaps longer. (The Biden transition team didn\u2019t im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely provide information on how long the pause will be extended, but we will update this story if we hear more).\u00a0<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>In addition, providing certainty for borrowers will require a concrete plan for providing a smooth transition back into repayment, both Yu and Buchanan said.\u00a0<\/p>\n<p>\u201cNo matter when repayment starts you can not just flip a switch,\u201d Yu said. \u201cWe need a plan.\u201d <\/p>\n<p>\u201cWe need cancellation before that h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ens,\u201d Yu added.\u00a0<\/p>\n<p>Kamin\u00a0briefly addressed the question of how the Biden administration would approach student debt cancellation during his remarks. \u201cAs the president-elect has said for months, he also supports Congress immediately canceling $10,000 in federal student loan debt per person as a response to the COVID crisis,\u201d he told reporters.\u00a0<\/p>\n<p>Democratic leaders have pushed Biden to go further. In September, Democratic Senators Chuck Schumer and Elizabeth Warren urged the next President to use executive authority to immediately cancel up to $50,000 in student debt. Some activists have called for Biden to cancel all student loans.\u00a0<\/p>\n<p>Debate has raged since Biden\u2019s election over the idea of student debt cancellation broadly and whether Biden should do it or leave it to Congress instead.\u00a0<\/p>\n<p>Though the run-off election results in Georgia increase the likelihood of some kind of student cancellation coming through Congress, Yu said she\u2019d like to see Biden use his executive authority to provide borrowers with relief. For one, student debt cancellation through congress is no guarantee, given that Democrats don\u2019t have a sweeping majority, Yu said. In addition, Congressional lawmakers have a lot on their plate and don\u2019t have a history of moving quickly, she said.\u00a0<\/p>\n<p>\u201cIt\u2019s good to see a renewed commitment to student debt cancellation, however we maintain that doing this administratively on day one is what student loan borrowers need right now,\u201d Yu said.\u00a0 \u201cWhere there\u2019s an action that the president wants to do and is already empowered to do, it makes sense for the president to just do it.\u201d <\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Jillian Berman\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Jillian_Berman\"><\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/marketwatch.com\/author\/jillian-berman?mod=MW_author_byline\">Jillian Berman<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B21005575-02D4-D4B5-4572-D1E6C42D80CE%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Biden administration to extend student loan payment pause on day one, transition officials say &#8221; The freeze was originally set to expire on Jan. 31, 11 days after Biden takes office Once in office, President-elect Joe Biden will extend the coronavirus-era payment pause on student loans, a member of his transition team told reporters&#8230;<\/p>\n","protected":false},"author":1,"featured_media":150446,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-150445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/150445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=150445"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/150445\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/150446"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=150445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=150445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=150445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}