Befire doing lunges, all students who have Student loans and think you should pay in January, you have to think twice before doing it. The Biden Administration urges all former students and current students to suspend their payments. If they pay, it could be money they give to the system without even having to. the Department of Education spoke about this to the general public in a recent statement, in which they urged all borrowers that they are not required to continue repaying these loans in January.
Before Thanksgiving, this department announced another extension or payment break. This will continue until January 30, 2023 or when the dispute is resolved. Currently, Republicans are embroiled in a massive lawsuit against the Biden administration over this decision to forgive student loans. Whichever comes first between Jan. 30 or the end of litigation will mark the next stage of this student loan drama.
Why You Should Delay Student Loan Payments
Last Wednesday, the Department of Education emailed all federal borrowers to let them know that the student loan payment suspension has been extended past Dec. 31. been two different courts against this decision. The Supreme Court has decided to take up this case and stop all payments until the matter is resolved. The statement is very specific for all students who feel compelled to pay these loans.
Here is the statement in full: “You will NOT have to make any loan payments that would have been restarted in January. And while litigation prevents us from providing the relief needed to avoid this harm, we do not believe it’s fair to ask borrowers to pay loans they wouldn’t have to pay if it weren’t for the lawsuits challenging the program Millions of borrowers would make payments they may not owe, or higher payments than they should, under the Biden-Harris debt relief plan. That’s not fair.