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In a one-two punch of legislation, Congress moved to strike down President Joe Biden’s massive student loan forgiveness initiatives.
Under House Speaker Kevin McCarthy’s (R., Calif.) debt ceiling and spending limit agreement, which passed the chamber 314-117 on Wednesday, the Biden administration cannot extend a pandemic-era pause on student loan payment for a ninth time. Borrowers must begin payments 60 days after June 30, 2023, according to the bill. Also on Wednesday, moderate Senate Democrats joined Republicans to advance legislation that would revoke Biden’s massive student debt cancellation program and nullify the pause on monthly payments.
