The Department of Education has reported that 40 percent of federal student loan borrowers failed to make a payment by mid-November after the pandemic-era student loan payment pause ended on October 1.
“While most borrowers have already made their first payment, others will need more time,” Under Secretary James Kvaal wrote in the report. “Some are confused or overwhelmed about their options. We want to make sure borrowers know that our top priority is to support student loan borrowers as they return to repayment.”
President Joe Biden continues to seek avenues to provide federal student debt relief, despite the Supreme Court ruling against the administration’s sweeping $400 billion loan forgiveness plan. The president said last week, “The Supreme Court ruled against me, but I still got 136 million people’s debt relieved.”
As the Lord Leads, Pray with Us…
- For Federal Student Aid COO Richard Cordray and Education Secretary Miguel Cardona as they collaborate on student loan relief strategies.
- For the justices of the Supreme Court as they decide cases surrounding the limits of executive branch authority.
- For the president and his administration as they promote federal student loan forgiveness plans.
