BIDEN TRANSITION/STUDENT LOANS: “At midnight on New Year’s Eve, President Donald Trump’s pause on student loan payments for 33 million Americans is set to expire, just three weeks before President-elect Joe Biden is slated to take over.
The Education Department started warning borrowers through text messages and emails this week that their monthly payments will resume in January. Even though Trump said this summer that he planned to later ‘extend’ the freeze beyond Dec. 31, a White House spokesperson declined to comment on whether the president is still considering another executive action to move the expiration date…
In an unusual alliance, loan industry officials are advocating alongside congressional Democrats, higher education groups and consumer organizations, all warning that suddenly turning back on the federal government’s massive student loan apparatus — mostly frozen since March — in the midst of a presidential transition could lead to anguish for everybody involved.”
-Michael Stratford, “Trump’s student loan cliff threatens chaos for Biden,” politico.com, Nov. 15, 2020