![]() ![]() Among other signs, the Education Department has told student loan servicers to hold off on sending borrowers bills and has not been gearing up to restart payments. Reading the tea leaves: It’s widely expected that the Biden administration will again extend the payment pause. As of today, borrowers have 16 days before the relief is officially set to expire. Biden subsequently extended the relief in August 2021 ( 55 days in advance of its expiration) in December 2021 ( 40 days) and most recently in April 2022 ( 25 days). The Biden team announced during the transition in January 2021 that they would extend the payment pause, then set to expire in 23 days. It announced a one-month extension 27 days before the relief was set to end. And again in December, just before leaving office. The Trump administration twice extended the pause: Once in August 2020, 53 days before it was set to expire in the heat of the presidential campaign. But the debate over restarting student loan payments has never come this close to the edge of the cliff without an answer from the White House in either administration. The freeze has been continued through a patchwork of legislation and subsequent executive actions that span several months at a time. For perspective: Most federal student loan borrowers have had monthly payments and interest suspended since the beginning of the pandemic roughly two and a half years ago. The White House has not yet signaled whether any student loan decision is on tap for this week, though officials have repeatedly promised an answer by month’s end. He’ll be signing the major climate, tax and health care law that Democrats in Congress passed last week. President Joe Biden is set to return to Washington this week after a family vacation in South Carolina. (AP Photo/Manuel Balce Ceneta) | Manuel Balce Ceneta/AP Photo Biden is in Kiawah Island with his family on vacation. It'll be interesting to see whether Sony or Nintendo ends up making similar changes soon, given that the CMA is also investigating their practices.President Joe Biden rides a bicycle along the beach at Kiawah Island, S.C., Sunday, Aug. This will start in the UK, but Microsoft has confirmed that it will be rolling out the policy worldwide in time as well, recognising that it's a good thing for consumers. That does still mean two years of paying for something you won't use, but at least it'll then theoretically end, rather than draining away ad infinitum. If they still don't use them for another 12 months, Microsoft start to cancel their charges so that people don't just pay into the future forever. Starting soon, if users don't take advantage of their subscription for a 12-month period, Mircosoft will get in touch with them to let them know how to cancel their subscriptions. The Competition and Markets Authority (CMA) has got Microsoft to change its practices around recurring billing. That's something the UK government has been paying attention to, and after some negotiation with Microsoft there are new changes incoming. ![]()
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