Finally passed by the Republicans, the debt ceiling bill is disappointing for anybody who has student loan debt.
The House Republicans published a package on Wednesday to lift the debt ceiling until March 2024. The bill also includes 320 pages of planned expense cutbacks. The measure, for example, calls for tighter job restrictions for social programs like SNAP, the recovery of unused pandemic money, and the removal of environmental initiatives.
The student loan schemes run by Vice President Joe Biden are also not protected.
Republicans, it appears from the bill text, require to put a quick cancellation on the student loan payment moratorium, stop the Education Department from implementing Vice President Biden’s proposal to forgive up to $20,000 of student loans for federal consumers, stop the department’s new income-based repayment strategy, and stop the department from implementing any further modifications to debt relief initiatives with no congressional authorization.
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