Senate

GOP senator calls Biden student loan freeze extension ‘an insult’ to Americans who pay their debts

Sen. Tom Cotton (R-Ark.) knocked President Biden on Tuesday after reports surfaced that the administration is expected to announce another extension of the student loan pause, writing on Twitter that the payment freeze is “an insult” to Americans who pay their debts.

“President Biden’s perpetual student loan payment moratorium is an insult to every American who responsibly paid debts,” Cotton wrote in a tweet. “There’s no free lunch: this reckless move puts taxpayers on the hook for billions.”

The Biden administration is expected to announce an additional extension of the pause on student loan payments this week, multiple sources told The Hill. The extension would prolong the moratorium on federal student loan payments and interest growth past the current expiration date, which is set for May 1.

The last time the moratorium was extended was in December. It was first enacted under former President Trump in March 2020, at the onset of the pandemic, and has since been extended five times.

The student loan pause was first implemented in an effort to provide relief to Americans who had difficulties making payments.

Some have called on Biden to extend the moratorium until after the midterm elections. He has also been under pressure from borrowers and Democrats to cancel federal student loans altogether.

White House press secretary Jen Psaki on Friday said the administration must make a decision on whether to extend the moratorium before May, adding that officials will “factor the impacts of economic data on ranges of groups of people, including students.”

The Hill reached out to the White House for comment.

Cotton is not the only Republican against extending the student loan pause. Last month, Rep. Bob Good (R-Va.) introduced the Federal Student Loan Integrity Act, which aims to prohibit the Education secretary from extending the student loan payment moratorium again.

Tags Biden Joe Biden Joe Biden student loan freeze Tom Cotton Tom Cotton

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