The bill still needs House approval to send to the Senate while affirming the Department of Education’s plan to end the student loan pause.
05/30/2023 3:15 P.M.
2 minute read
The debt limit bill that has dominated Capitol Hill over the past several weeks has been released with language to lift the student loan pause as planned at the end of August, Forbes reports.
The U.S. Department of Education has had the end of the student loan pause on its calendar, and Education Secretary Miguel Cardona confirmed it will happen this summer at a Senate Appropriations Committee hearing earlier this month, ACA International previously reported.
The House of Representatives has at least three days to review the debt limit bill, meaning there could be a vote as soon as Wednesday, May 31, to move the bill on to the U.S. Senate for consideration, according to The Hill.
“But Democratic and Republican leaders will first have to rally enough support for the legislation to have it pass through the chamber, a task that could become more complicated as liberals and conservatives voice concerns with the bill,” according to the article.
As far as student loans go, the Biden administration continues to explore other student loan relief options, such as the student loan forgiveness application steps for public service borrowers.
This could include automating the process for those borrowers—at least those who are federal employees—to start, according to Forbes.
Meanwhile, the debt ceiling bill did not include mention of student loan cancellation plans that are subject to a pending opinion from the U.S. Supreme Court.
The Supreme Court justices are expected to issue a final ruling by the end of June, ACA previously reported.
Members of the House of Representatives also recently passed a measure to overturn the student loan debt relief plan that is the subject of the Supreme Court cases, according to The Hill.
The measure was proposed under the Congressional Review Act, which permits members of Congress to stop executive actions from the White House, according to the article.
It is expected to face a tough battle to secure approval from the Senate, and the Biden administration has also said it would veto the measure.