Many holders of student loan debt are understandably confused about their obligations. That is almost certainly the intention of the Biden administration.
If President Joe Biden cares about recent college graduates—not just as a voting bloc to be manipulated in hopes of boosting his deteriorating reelection prospects, but as real people with their lives ahead of them—he has to level with them. The truth is that the 12-month on-ramp to student loan repayment will end on September 30, 2024. And nothing is going to change that fact.But many holders of student loan debt are understandably confused about their obligations.
'Congratulations—all or a portion of your federal student loans will be forgiven because you qualify for early loan forgiveness under my Administration's SAVE Plan,' reads an election-year email from the Department of Education bearing Biden's signature.What that email should have stated is that the executive actions to cancel student debt for all but a few have failed and that there is no legal path to implement a plan for blanket loan forgiveness.
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