Beret (Bourree) Lam

speaker

435 appearances 6 recordings 1 series first heard Apr 2020 last heard Jan 2024

Beret (Bourree) Lam’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Biden's Economic Agenda and Your Personal Finances · 12 Jan 2021 podcast

And so that's an open question.

Another very interesting point that my colleague Rich Rubin makes is that a lot of upper income households who haven't received money in the previous two rounds could get a partial payment due to the income limits.

And so if the income limits are the same, or even if they change, that could qualify some higher income households for a partial payment.

Yes.

So this is a question, I would say, of the personal finance questions we get just on social media.

This is a question at the top of people's minds.

When the pandemic started, Secretary Betsy DeVos suspended student loan payments and also interest.

And

The student loan repayment and interest suspension doesn't require Congress to act.

It can be done by executive action.

It also can be done by the new education secretary.

And as of the end of last week, the Biden administration transition team officials have said that Joe Biden will be directing the Department of Education to extend

the pause on both payments and interest.

So as of right now, the suspension of interest and the suspension of loan payments have been extended through January, so to January 31.

And the collection on defaulted student loans is suspended too.

So right now, I think with the signaling from the Biden administration and the transition team, we can expect these provisions to continue as soon as they take office.

This is something that a lot of people are really looking forward to hearing about, which is when Mr. Biden was running for president, part of his proposal, part of his agenda for education included forgiving $10,000 of federal student debt.

And there was no details at the time on how he would do that.

Now, a lot of people, including Senator Elizabeth Warren, has said that this can be done by executive action in terms of legalities.

But Mr. Biden has said in an interview with The Washington Post that he was unlikely to use executive action for student loan forgiveness.

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