Student loan borrowers refuse to pay, prod Biden to pony up more debt forgiveness in election year
Banking And Finance,Student Loan Debt,Student Loan Forgiveness,Education
Americans saddled with student debt are boycotting their repayments to increase election-year pressure on President Biden to keep his promise of more loan forgiveness.
Since the federal government stopped a three-year “pandemic pause” on student loan repayments in October, only 40% of borrowers have paid all their monthly obligations. Meanwhile, 35% have made some payments and 25% haven’t made any, an Intelligent.com survey found.
One in 10 student loan borrowers said they have been skipping their payments intentionally to pressure Mr. Biden to cancel more debt, the survey found. Dissatisfaction among Democratic voters who say Mr. Biden hasn’t kept his promise to erase student debt is another reelection challenge for the president.
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