This really shouldn’t be a surprise to anyone, but there it is. After years of ‘forbearance,’ ‘different ‘forgiveness’ carrots for votes, ‘on-ramps’ and warnings that the day was coming when these loans would come due, many holders of student loan debt held out that it would all just go away.
All it did was grow while they waffled.
The Biden administration, after numerous failures in their schemes to eliminate all student loan debt – while wildly successful for some lucky borrowers – gave most of those who owed what they called an ‘on-ramp.’ It was a twelve-month grace period that started in 2023, which protected delinquent borrowers from the worst effects and gave them time to bring their loan status up to snuff before consequences kicked in.
When federal student loan payments finally restart in the fall, the Biden administration will offer borrowers some…
