included no mandatory federal student loan payments, 0% interest on federal student loans, and no collection of student loan debt in default. This follows two prior extensions from President Donald Trump as well as six months of temporary student loan forbearance that Congress passed in March 2020 as part of the Cares Act, the $2.2 trillion stimulus package. In aggregate, student loan borrowers will get 22 months of temporary student loan forbearance, which has resulted in $110 billion of student loan cancellation.
Biden has maintained that he doesn’t believe that a president has the legal authority to cancel student loan debt unilaterally without further authorization from Congress. A former U.S.