美国国家公共电台 NPR--Why your student loan payments may be delayed (again)

Why your student loan payments may be delayed (again)

Transcript¹

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Federal student loan payments are supposed to resume in May, more than two years after they were paused because of the coronavirus pandemic. But the Education Department recently emailed unusual guidance to the companies that manage its $1.6 trillion student loan portfolio², throwing that timing³ into doubt.

Don't reach out to borrowers about that May 1 deadline, the guidance said.

The email, obtained by NPR and first reported by Politico, did not explain why servicers should go quiet about the deadline, nor did it say the deadline would change. But the order suggests that the Biden administration is considering another extension of the student loan payment freeze.

The department has a legal obligation to reach out to borrowers at least six times before the return to repayment⁵, so telling servicers not to do this outreach, at a moment when legally it should be happening, means the administration can delay this decision only for so long.

That email comes just a few days after White House Chief of Staff Ron Klain hinted that the repayment pause could be extended, in an appearance on the podcast Pod Save America.

"The president is going to look at what we should do on student debt before the pause expires, or he'll extend the pause," Klain said.

There's pressure from the left to cancel student debt

Klain's words — "what we should do on student debt" — are a clear reference to the elephant in the room for Biden: He pledged, as a presidential candidate, to cancel at least $10,000 in student debt per borrower, but his reluctance⁶, so far, to do so has frustrated⁷ many in his party.

Biden now faces increasing pressure from his own left flank, with Rep. Ayanna Pressley, D-Mass., recently tweeting, "Student debt cancellation⁸ is a racial & economic justice issue" and "@POTUS must #CancelStudentDebt" — a tweet that Sen. Elizabeth Warren, D-Mass., shared, adding, "Grateful to be in this fight by your side."

Even Senate Majority Leader Chuck Schumer has made things uncomfortable for Biden. After Klain's comments became public, Schumer tweeted: "Today would be a great day for President Biden and Vice⁴ President Harris to #CancelStudentDebt."

This pressure from fellow Democrats⁹ contributed to Biden's last-minute decision in December to extend the repayment pause from Jan. 31 to its current date, May 1, even though the Education Department had already begun sending notices to borrowers.

In fact, over the past two years, the department has sent nearly 385 million emails alone to borrowers alerting them to approaching deadlines, only to see those deadlines evaporate half a dozen times when the Trump¹⁰ administration and then the Biden administration announced another extension. The result: confusion for borrowers.

Now comes this email to loan-servicing companies that appears to be an effort to prevent another raft of confusing borrower notices around another deadline that could evaporate.

There are risks to resuming repayment in May

There are big logistical and political risks to requiring tens of millions of borrowers to resume repayments¹¹ in May.

Logistically, two mammoth¹² student loan servicers, Navient and FedLoan, are winding¹³ down their federal contracts, leaving the Education Department to shift millions of borrowers to other servicers. That could make it harder for some to get the help they'll need changing repayment plans or monthly payments — not the kind of frustration¹⁴ Democrats want lingering into an election season.

Which is the biggest problem with May, as anyone with a calendar will tell you: It is dangerously close to the midterm elections in November. Asking borrowers to resume repaying student loans ahead of those elections offers little political upside for Democrats.

What's more, liberal Democrats who have been pushing for debt cancellation may see a return to repayment as Biden abandoning his campaign pledge, because it makes little sense to force borrowers — and the government — back into debt repayment and collection if cancellation is on the way. If, instead, Biden extends the deadline, even if he continues to avoid a decision on cancellation, the pandemic pause becomes an election-season asset for Democrats, rather than a liability.

"Joe Biden is the only president in history where no one's paid on their student loans for the entirety of his presidency," Klain said on the podcast, clearly test-driving a talking point for borrower voters.

And some borrower advocates who have pushed Biden hard on cancellation are already throwing their support behind another extension of the repayment pause.

"This is one of the rare cases where economics, politics, policy and common sense all push in the same direction," said Mike Pierce, executive director of the Student Borrower Protection Center, in a statement to NPR.

"When every other aspect of American life is more expensive in the wake of the pandemic, student loans don't need to be. It appears that President Biden and Vice President Harris recognize this and will once again step up to protect people with student debt," Pierce said in response to news of the department's email to loan servicers.

Biden's conservative critics argue enough is enough

When student loan interest and payments were first paused in March 2020, as part of the CARES Act, borrowers were in the vise grip of the pandemic and the pause enjoyed bipartisan support — as did moves to extend it, at least long enough for the economic effects of the pandemic to recede¹⁵ and for borrowers to get back on their feet.

Despite inflation hitting another 40-year high, hiring is rebounding¹⁶. Critics of another extension also point out that the pause on interest and payments has cost the federal government, along with taxpayers¹⁷, at least $95 billion.

This rumored¹⁸ extension "makes clear that the President is comfortable using the narrative¹⁹ of a permanent pandemic to advance [his] policy preferences behind closed doors," Rep. Virginia Foxx of North Carolina said in a statement to NPR. She's the top Republican on the House Education Committee.

"Hardworking taxpayers are tired of having their backs broken by this President. Another repayment freeze only begets²⁰ unfairness that is inevitably²¹ leveled at both taxpayers and responsible borrowers alike," Foxx said.

In a statement to NPR, an Education Department spokesperson would not confirm that the repayment pause would continue beyond May 1, but wrote, "from Day One, the Biden-Harris Administration has been committed to providing meaningful relief to student loan borrowers including the 41 million borrowers who have saved tens of billions as a result of the extended student loan payment pause. The Department will continue communicating directly with borrowers about federal student loan repayment by providing clear and timely updates."

And yet borrowers eager to know when, exactly, they'll be expected to resume repaying their student loans will have to wait a little longer.

NPR is committed to reporting on issues that matter to you and your community, like student loans. Sign up for the education newsletter to stay up to date and get early access.

1 transcript   

n.抄本，誊本，副本，肄业证书

参考例句：

• A transcript of the tapes was presented as evidence in court.一份录音带的文字本作为证据被呈交法庭。
• They wouldn't let me have a transcript of the interview.他们拒绝给我一份采访的文字整理稿。

2 portfolio   

n.公事包；文件夹；大臣及部长职位

参考例句：

• He remembered her because she was carrying a large portfolio.他因为她带着一个大公文包而记住了她。
• He resigned his portfolio.他辞去了大臣职务。

3 timing   

n.时间安排，时间选择

参考例句：

• The timing of the meeting is not convenient.会议的时间安排不合适。
• The timing of our statement is very opportune.我们发表声明选择的时机很恰当。

4 vice   

n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的

参考例句：

• He guarded himself against vice.他避免染上坏习惯。
• They are sunk in the depth of vice.他们堕入了罪恶的深渊。

5 repayment   

n.偿还，偿还款；报酬

参考例句：

• I am entitled to a repayment for the damaged goods.我有权利索取货物损坏赔偿金。
• The tax authorities have been harrying her for repayment.税务局一直在催她补交税款。

6 reluctance   

n.厌恶，讨厌，勉强，不情愿

参考例句：

• The police released Andrew with reluctance.警方勉强把安德鲁放走了。
• He showed the greatest reluctance to make a reply.他表示很不愿意答复。

7 frustrated   

adj.挫败的，失意的，泄气的v.使不成功( frustrate的过去式和过去分词 )；挫败；使受挫折；令人沮丧

参考例句：

• It's very easy to get frustrated in this job. 这个工作很容易令人懊恼。
• The bad weather frustrated all our hopes of going out. 恶劣的天气破坏了我们出行的愿望。 来自《简明英汉词典》

8 cancellation   

n.删除，取消

参考例句：

• Heavy seas can cause cancellation of ferry services.海上风浪太大，可能须要取消渡轮服务。
• Her cancellation of her trip to Paris upset our plan.她取消了巴黎之行打乱了我们的计划。

9 democrats   

n.民主主义者，民主人士( democrat的名词复数 )

参考例句：

• The Democrats held a pep rally on Capitol Hill yesterday. 民主党昨天在国会山召开了竞选誓师大会。
• The democrats organize a filibuster in the senate. 民主党党员组织了阻挠议事。 来自《简明英汉词典》

10 trump   

n.王牌，法宝；v.打出王牌，吹喇叭

参考例句：

• He was never able to trump up the courage to have a showdown.他始终鼓不起勇气摊牌。
• The coach saved his star player for a trump card.教练保留他的明星选手，作为他的王牌。

11 repayments   

偿还，报答，偿付的钱物( repayment的名词复数 )

参考例句：

• The repayments of the loan are spread over 10 years. 贷款可在十年内分期偿还。
• The repayments of the loan are spread over 25 years. 这笔贷款分摊二十五年偿还。

12 mammoth   

n.长毛象；adj.长毛象似的，巨大的

参考例句：

• You can only undertake mammoth changes if the finances are there.资金到位的情况下方可进行重大变革。
• Building the new railroad will be a mammoth job.修建那条新铁路将是一项巨大工程。

13 winding   

n.绕，缠，绕组，线圈

参考例句：

• A winding lane led down towards the river.一条弯弯曲曲的小路通向河边。
• The winding trail caused us to lose our orientation.迂回曲折的小道使我们迷失了方向。

14 frustration   

n.挫折，失败，失效，落空

参考例句：

• He had to fight back tears of frustration.他不得不强忍住失意的泪水。
• He beat his hands on the steering wheel in frustration.他沮丧地用手打了几下方向盘。

15 recede   

vi.退(去)，渐渐远去；向后倾斜，缩进

参考例句：

• The colleges would recede in importance.大学的重要性会降低。
• He saw that the dirty water had begun to recede.他发现那污浊的水开始往下退了。

16 rebounding   

蹦跳运动

参考例句：

• The strength of negative temperature concrete is tested with supersonic-rebounding method. 本文将超声回弹综合法用于负温混凝土强度检测。
• The fundamental of basketball includes shooting, passing and catching, rebounding, etc. 篮球运动中最基本的东西包括投篮，传接球，篮板球等。

17 taxpayers   

纳税人，纳税的机构( taxpayer的名词复数 )

参考例句：

• Finance for education comes from taxpayers. 教育经费来自纳税人。
• She was declaiming against the waste of the taxpayers' money. 她慷慨陈词猛烈抨击对纳税人金钱的浪费。

18 rumored   

adj.传说的，谣传的v.传闻( rumor的过去式和过去分词 )；[古]名誉；咕哝；[古]喧嚷

参考例句：

• It is rumored that he cheats on his wife. 据传他对他老婆不忠。 来自《简明英汉词典》
• It was rumored that the white officer had been a Swede. 传说那个白人军官是个瑞典人。 来自辞典例句

19 narrative   

n.叙述，故事；adj.叙事的，故事体的

参考例句：

• He was a writer of great narrative power.他是一位颇有记述能力的作家。
• Neither author was very strong on narrative.两个作者都不是很善于讲故事。

20 begets   

v.为…之生父( beget的第三人称单数 )；产生，引起

参考例句：

• It begets at least seven standard type offspring from such matings. 这类交配中生下至少七个标准型后代。 来自辞典例句
• Violence begets violence until the innocent perish with the guilty. 暴力招致暴力直到这因罪行而无缘无故的毁灭。 来自电影对白

21 inevitably   

adv.不可避免地；必然发生地

参考例句：

• In the way you go on,you are inevitably coming apart.照你们这样下去，毫无疑问是会散伙的。
• Technological changes will inevitably lead to unemployment.技术变革必然会导致失业。