But for Joe Biden, it might be good politics.
NRPLUS MEMBER ARTICLE F or the last two years, federal student-loan borrowers have been excused, without penalty, from repaying their debts. In the meantime, taxpayers, who financed those debts, were left holding the bag while many high-earning borrowers rode the gravy train. Repayment was initially put on pause by the CARES Act at the beginning of the Covid-19 pandemic, before we fully understood what the pandemic’s economic impact would be. But with the economic fallout from Covid largely behind us, this moratorium on student-loan repayment should now be coming to an end.
Unfortunately, it seems that the Biden administration may have other plans.