If President Joe Biden extends the student loan payment pause, expect these 3 things to happen:
The midterm election this November could determine the balance of power in Washington for the next two years. . If Republicans win control of the U.S. House of Representatives, it would weaken Biden’s legislative agenda. Some Democrats say that failure to extend the student loan payment freeze could means Democrats will lose the midterm election. The same holds true for student loan cancellation.
If Biden doesn’t enact wide-scale student loan cancellation, some Democrats say their party is doomed in the election because voters won’t show up to vote. Others disagree with this sentiment. For example, others have argued that extending student loan relief beyond May or enacting wide-scale student loan cancellation could alienate moderate and independent voters who the Democrats need to retain a majority in Congress.
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