{"id":1423910,"date":"2022-04-07T13:00:34","date_gmt":"2022-04-07T17:00:34","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1423910"},"modified":"2022-04-07T13:00:39","modified_gmt":"2022-04-07T17:00:39","slug":"joe-biden-uses-coronavirus-emergency-power-to-extend-student-loan-repayment-pause-to-help-progressive-elites","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/joe-biden-uses-coronavirus-emergency-power-to-extend-student-loan-repayment-pause-to-help-progressive-elites\/","title":{"rendered":"Joe Biden Uses Coronavirus Emergency Power to Extend Student Loan Repayment Pause to Help &#039;Progressive Elites&#039;"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fjoe-biden-uses-coronavirus-emergency-power-to-extend-student-loan-repayment-pause-to-help-progressive-elites%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1423910&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"subheading\">The Biden administration has once again used coronavirus emergency powers to extend a pause on student loan repayment, capitulating to his left flank and costing taxpayers billions of dollars.<\/p>\n<p>The pause will be <a href=\"https:\/\/apnews.com\/article\/student-loan-payment-moratorium-extended-d54907ea99a6745dc9f832435beda751\">extended<\/a> through August 31, lengthening the original May 1 date to start repayment, according to the Associated Press.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>\u201cThis is a desperate attempt by the Biden Administration to shore up their radical progressive base at the expense of hard-working, tax-paying Americans,\u201d Garrett Bess, vice president of Heritage Action, told Breitbart News. \u201cIt\u2019s been two years \u2014 Biden can\u2019t keep wielding an \u2019emergency\u2019 halt in student loan payments for his own partisan political\u00a0concerns.\u201d<\/p>\n<p>More than 43 million Americans who owe more than $1.6 trillion in loans will receive yet another extension, despite the fact that most holders of student loan debt come from wealthy families.<\/p>\n<p>Indeed, the wealthiest 40 percent of borrowers <a href=\"https:\/\/www.aei.org\/education\/biden-is-right-to-reject-calls-to-forgive-50000-in-student-debt\/\">hold<\/a> 60 percent loan debt. The Biden plan also requires lower-income taxpayers to foot the bill for mostly graduate students \u2014 holding the majority of the debt \u2014 who are more than likely to out-earn them.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>\u201cPresident Biden\u2019s decision displays an utter lack of foresight and an indifference to low- and middle-income taxpayers,\u201d Isabelle Morales of Americans for Tax Reform (ATR) told Breitbart News. \u201cWorking families should not be funding billions of dollars in giveaways to affluent, progressive elites.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">President Biden&#8217;s perpetual student loan payment moratorium is an insult to every American who responsibly paid debts.<\/p>\n<p>There&#8217;s no free lunch: this reckless move puts taxpayers  on the hook for billions.<\/p>\n<p>\u2014 Tom Cotton (@TomCottonAR) <a href=\"https:\/\/twitter.com\/TomCottonAR\/status\/1511406694471028746?ref_src=twsrc%5Etfw\">April 5, 2022<\/a><\/p>\n<\/blockquote>\n<p>\u201cThis policy has\u00a0already\u00a0cost taxpayers $100 billion and\u00a0will cost an\u00a0additional $5 billion each month,\u201d Morales continued. \u201cThis massive level of spending has contributed to surging inflation and is unfair to\u00a0Americans\u00a0that\u00a0decided against attending college, opted for less expensive schooling, served in the military to receive free education, or have worked long hours to put themselves through school instead of going into debt.\u201d<\/p>\n<p>ATR sent an April 5 letter to Education Secretary Miguel Cardona and members of Congress explaining that \u201cIronically, the over $100 billion spent on this policy has been given to those who suffered the least under pandemic shutdowns and economic turmoil. \u2026 This policy primarily benefits the wealthy.\u201d<\/p>\n<p>Further, the Brookings Institute described those who would benefit from student loan forgiveness as \u201chigher income, better educated, and more likely to be white,\u201d despite overtures to the contrary from leftist advocates of the policy.<\/p>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<p>\u201cThe top 20 percent of households currently hold $3 in student loan debt for every $1 of debt held by the bottom 20 percent of earners,\u201d ATR\u2019s letter explained. \u201cThe median income of households making active payments on their student loans was $76,400, with just 4 percent of these households being below the federal poverty line.\u201d<\/p>\n<div id=\"attachment_20566703\" class=\"wp-caption alignnone\"><a href=\"https:\/\/media.breitbart.com\/media\/2022\/04\/GettyImages-1239749645.jpg\"><\/a><\/p>\n<p class=\"wp-caption-text\"><em>People hold signs during a Cancel Student Debt rally outside the U.S. Department of Education in Washington, DC, on April 4, 2022. ( STEFANI REYNOLDS\/AFP via Getty Images)<\/em><\/p>\n<\/div>\n<p>\u201cOnce again, the Biden Administration is picking winners and losers and hard-working Americans are going to have to pick up the tab,\u201d Bess, said. \u201cCollege graduates have done better in the COVID economy than their peers, seeing higher incomes and greater employment, yet Biden continues to give them special favors by continuing the moratorium on student loan payments.\u201d<\/p>\n<p>As the loan repayment moratorium can be extended by the administration in perpetuity, some congressional Republicans are seeking ways to stop the costly policy.<\/p>\n<p>As Breitbart News exclusively <a href=\"https:\/\/www.breitbart.com\/politics\/2022\/03\/11\/exclusive-bob-good-jim-banks-introduce-bill-to-stop-bidens-costly-freeze-on-student-loan-payments\/\">reported<\/a>, Rep. Bob Good (R-VA) and Rep. Jim Banks (R-IN) have introduced a bill that would force an end to Biden\u2019s repayment pause extensions.<\/p>\n<p>\u201cThe Biden Administration needs to put an end to their COVID madness once and for all,\u201d Good told Breitbart News. \u201cAs the American people are going back to work, President Biden continues to cause suffering from run-away inflation caused by his endless spending and tone-deaf energy policies.\u201d<\/p>\n<p>Despite this, top Democrats have been calling for even more radical student loan policies.<\/p>\n<p>Reacting to the news of Biden\u2019s moratorium, Senate Majority Leader Chuck Schumer (D-NY) said it was a \u201cvery good thing,\u201d but argued that \u201cthe president should go further and forgive $50,000 in student loans permanently.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">SCHUMER: &#8220;I just heard that the President is going to extend the student loan moratorium through August. [\u2026] The president should go further and forgive $50,000 in student loans permanently.&#8221; <a href=\"https:\/\/t.co\/5qXONhaL5n\">pic.twitter.com\/5qXONhaL5n<\/a><\/p>\n<p>\u2014 Breaking911 (@Breaking911) <a href=\"https:\/\/twitter.com\/Breaking911\/status\/1511835297180528642?ref_src=twsrc%5Etfw\">April 6, 2022<\/a><\/p>\n<\/blockquote>\n<p class=\"xxxmsonormal\"><strong>\u00a0<em>Breccan F. Thies<\/em>\u00a0<em>is a reporter for Breitbart News. You can follow him on Twitter\u00a0<a title=\"This external link will open in a new window\" href=\"https:\/\/twitter.com\/BreccanFThies\" target=\"_blank\" rel=\"noopener noreferrer\">@BreccanFThies<\/a>.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Biden administration has once again used coronavirus emergency powers to extend a pause on student loan repayment, capitulating to his left flank and costing taxpayers billions of dollars. The<\/p>\n","protected":false},"author":179,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1423910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1423910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/179"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1423910"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1423910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1423910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1423910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1423910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}