WASHINGTON (Pakistan Point News / Sputnik - 08th June, 2023) US President Joe Biden vetoed a congressionally-passed resolution that would end the pause on Federal student loan payments and block the president's effort to cancel student loan debt for eligible borrowers, the White House said in a press release.
"I remain committed to continuing to make college affordable and providing this critical relief to borrowers as they work to recover from a once-in-a-century pandemic," Biden said in the release on Wednesday. "Therefore, I am vetoing this resolution."
Biden, in the release, blasted lawmakers for blocking efforts to provide student loan relief to eligible borrowers while many of them had tens of thousands of Dollars of their own business loans forgiven by the federal government.
Biden's student loan forgiveness program would cancel up to $20,000 in debt for borrowers who earned an annual income of under $125,000 as individuals or married couples with an annual income of $250,000. The Supreme Court is slated to issue a ruling later this month on challenges contesting the legality of the program.
The pause on student loan payments has been extended eight times since March 2020 as part of COVID relief efforts. However, the recent legislation to raise the US debt ceiling, which passed Congress and was signed into law over the weekend, includes a provision that would resume student loan payments 60 days after June 30.
