LOCAL NEWS

‘There’s so much more to do,’ says Sen. Murray of decision to extend student loan moratorium

Apr 6, 2022, 10:47 AM
student loan...
Patty Murray (D-WA) (Getty Images)
(Getty Images)

The Biden administration has extended a pause on student loan repayments through Aug. 31, leveraging a moratorium that has halted repayments for student borrowers since the start of the pandemic.

White House to extend student loan pause through August

Student loan payments were previously scheduled to resume at the start of May.

Washington Senator Patty Murray has been a vocal critic of the student loan system in recent weeks and months. Following the Biden Administration’s announcement, the senator said that, while the pause is “urgently needed” … “we need long-lasting change and a student loan system that actually works for students and borrowers—not just quick fixes.”

“I’ve outlined a clear plan the Administration must follow and I’m glad to see they intend to act to give struggling borrowers a fresh start,” Sen. Murray continued in a news release.

“But the Administration must also forgive some debt for all borrowers and fix our student loan system once and for all—including by fixing our badly broken income driven repayment system and creating a new Public Service Loan Forgiveness program that works for our public servants.”

“This is not too much to ask for: so I continue to urge the Biden Administration to deliver for student borrowers — and I continue to push the Administration to extend the pause until 2023 to make sure this all gets done before payments resume.”

In Washington state, a major student loan servicer, Navient, was slapped with a $45 million restitution settlement following an attorney general investigation into Navient’s predatory lending practices.

The allegations of unfair lending practices largely related to forbearance: Washington Attorney General Bob Ferguson stated in January that Navient “unfairly pushed borrowers into forbearance,” forcing borrowers into accepting high-interest accumulation without sufficient education of the benefits of income-driven repayment plans. When payments resumed, accumulated interest would be added to the principle, whereas income-driven plans offer the possibility of loan forgiveness after 20 to 25 years of qualifying payments, which can be as low as $0 per month.

Navient, the Sallie Mae offshoot that was once the nation’s largest student loan servicer, began transferring $5.6 million in loans owned by the U.S. Department of Education to a company named Maximus in January, which will service the loans under the brand “AidVantage” in Washington state.

Local News

(Photo from KIRO 7)...
Lauren Donovan, KIRO 7 News

‘They don’t care about our safety:’ Kentucky Amazon workers fly to Seattle to protest

Kentucky Amazon workers determined to unionize flew into Seattle for a protest outside The Spheres in South Lake Union.
11 hours ago
Lakewood Police...
Lisa Brooks

Suspect arrested after infant grazed by bullet in Lakewood

An infant was grazed by a bullet and hit by broken glass after a shooting Friday night in Lakewood. There is no information on a suspect.
11 hours ago
Dan Rocha...
Gwen Baumgardner, KIRO 7 News

Community honors fallen Everett police officer Dan Rocha one year after line-of-duty death

Online tributes continue to pour in on the one-year anniversary after the death of Everett police officer Dan Rocha.
1 day ago
Tacoma homicide...
KIRO Newsradio Newsdesk

Homicide detectives investigating after man found dead in Tacoma

Homicide detectives are investigating after a man's body was found dead Saturday morning along South Tacoma Way.
1 day ago
Space Needle...
Julia Dallas, KIRO 7 News

Space Needle joining other national landmarks in going dark Saturday for climate change awareness

The Space Needle is joining 190 other countries’ and territories’ national landmarks in going dark on Saturday, March 25.
1 day ago
March Madness...
Nate Connors

Weekend Traffic Report: NCAA March Madness comes to town

NCAA Women's Basketball is heading to Climate Pledge Arena Friday through Monday. Friday's game starts at 4:30 p.m.
2 days ago

Sponsored Articles

Emergency Preparedness...

Prepare for the next disaster at the Emergency Preparedness Conference

Being prepared before the next emergency arrives is key to preserving businesses and organizations of many kinds.
SHIBA volunteer...

Volunteer to help people understand their Medicare options!

If you’re retired or getting ready to retire and looking for new ways to stay active, becoming a SHIBA volunteer could be for you!
safety from crime...

As crime increases, our safety measures must too

It's easy to be accused of fearmongering regarding crime, but Seattle residents might have good reason to be concerned for their safety.
Comcast Ready for Business Fund...
Ilona Lohrey | President and CEO, GSBA

GSBA is closing the disparity gap with Ready for Business Fund

GSBA, Comcast, and other partners are working to address disparities in access to financial resources with the Ready for Business fund.
SHIBA WA...

Medicare open enrollment is here and SHIBA can help!

The SHIBA program – part of the Office of the Insurance Commissioner – is ready to help with your Medicare open enrollment decisions.
Lake Washington Windows...

Choosing Best Windows for Your Home

Lake Washington Windows and Doors is a local window dealer offering the exclusive Leak Armor installation.
‘There’s so much more to do,’ says Sen. Murray of decision to extend student loan moratorium