A Republican measure to block President Joe Biden's student-loan forgiveness plan would force borrowers to retroactively cover the voided pause period.
were to get their way and pass this bill into law, people across the country would have relief they are counting on snatched away from them, plans they have made upended, less money in their pockets, and monthly payments not just abruptly restarted—but maybe even abruptly jacked up by hundreds of dollars," said Sen. Patty Murray .
While Democrats and supporters of Biden's plans say that the program is necessary to help thousands of families, Republicans have argued that it adds an unjustified burden on taxpayers and is unfair to those who have already paid off their student debt or did not go to college. Payments on federal student loans, which were paused during the pandemic and then during the cost-of-living crisis which hit most of the world last year, will resume on August 30 if the debt-ceiling deal negotiated between Biden and House SpeakerBiden's plan to cancel student loan debt for 43 million Americans would still be in place, and the president has said he will veto the measure passed by the Senate on Thursday.
No debt has been canceled yet, as the plan has been held up for months in a legal battle that would be unlocked by the Supreme Court's decision this month.
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