For the first time in five years, federal student loan repayments resumed on May 5 — and the media is calling it “tragic” for borrowers.
“American taxpayers will no longer be forced to serve as collateral for irresponsible student loan policies,” U.S. Secretary of Education Linda McMahon said. “The Biden administration misled borrowers: The executive branch does not have the constitutional authority to wipe debt away, nor do the loan balances simply disappear.”
McMahon also noted that “hundreds of billions have already been transferred to taxpayers” and “for the sake of their own financial health and our nation’s economic outlook,” borrowers will now be forced to return to paying their student loans.
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“We all know that this justification for a student loan pause
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