block president joe biden s 400 billion student loan forgiveness program, lawmakers 218-203 vote with two yes votes from democrats, the vote would end the payment pause, if it clears the senate, president biden is promising to veto it. will determine the legality of the program in late june or early july. the brady bunch house is up for sale with listing price of $5.5 million. mr. brady was an architect, it was well designed. the brady kids jumped for joy after scaring off buyers in this iconic episode. did you hear that, you ghosts, the house is no longer for sale. brian: i remember that one. you remember that one? ainsley: yes. brian: los angeles property hitting the market 2 million
payments while the program is tied up with legal challenges. joining me now is a student loan expert and publisher and vice president of research at savingforcollege.com. thanks for joining me today. you have written quite a bit about all the confusion around this program. explain to our viewers the time line that borrowers need to know about now with all of this happening. so, the payment pause in interest waiver has been extended for an eighth time until 60 days after either the court cases are resolved or june 30th, 2023, whichever comes first. so they can have as little as end of january or end of august before repayment resumes. so, if that resumes in the summer, what should people be doing right now? well, people should first of all make sure that their contact information is up to date with the u.s. department of education
legal challenges. the forgiveness plan is worth up to $20,000 in debt relief per borrower and the payment pause was going to expire at the end of the year. now they extended it into 2023 with the promise of federal relief still unresolved. listen to what the president posted in this video on twitter. we re not going to back down on our fight to give families breathing room. that s why the department of justice is asking the supreme court of the united states to rule on the case. but it isn t fair to ask tens of millions of borrowers eligible for relief to resume payments while the courts consider the lawsuit. for that reason the secretary of education is extending the pause on student loan payments while we seek relief from the courts but no later than june 30, 2023. they re really confident this is legal even after the federal judge said they overstepped constitutionally. i m not sure. they did this all based on a
the biden administration has now extended the pause on student loan repayments well into the new year. the expiration date was set to end at the end of this year but has now been moved to june 30th. it comes after a federal appeals court ruling blocked biden s debt we leaf relief plan. it would cancel up to $10,000 in federal student loan debt and up to 20,000 for pell grant recipients. joining me now co-founder and author of debt collective. while the president s plan is tied up in the courts, are you encouraged by this step, this delay? the extension of the payment pause is absolutely critical. it gives people much needed relief and gives the biden administration time to figure out exactly what its plan is going to be to cancel student debt. this is a promise that was made. people over the last few days,