There's no chance the student-loan payment pause will be extended again this year if McCarthy and Biden's debt-ceiling deal is signed into law
However, some advocates are not happy with the provisions for student-loan borrowers in this bill. Mike Pierce, executive director of the Student Borrower Protection Center, said in a statement that the deal resumed Washington's"decades-long, bipartisan push to profit off the student debt crisis and squeeze money from student loan borrowers in order to pay the government's bills. This is a betrayal and is awful on its own terms.
And Derrick Johnson, president and CEO of the NAACP, called for Congress to reject the student-debt provisions in the agreement. It would"end the student loan payment pause, which provides a vital economic stimulus to millions of students. Black women bear the highest comparative levels of student debt relief because they invest in education at a significant cost. They also pay taxes.
The debt ceiling bill is set to get marked up in a committee hearing on Tuesday, and lawmakers on both sides of the aisle will likely attempt to remove provisions from the agreement they do not agree with. Democratic lawmakers have not yet commented on whether they will seek to eliminate the student-loan provisions, but with the US on track to default as early as June 5, lawmakers need to move quickly to get some version of the bill to Biden's desk.
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