 So I'm sure that a lot of you have already seen the emails. You've gotten the voicemails You're well aware of the fact that Student loan repayments will resume on February 1st of 2022. Now, they don't have to resume Biden can put them on pause a little bit longer since we are literally still going through a pandemic or He could just cancel them all together, which would be preferable, but his administration has been very clear They're not gonna do that. Student loan repayments will resume February 1st 2022 like it or not So as Zach Friedman of Forbes explains White House Press Secretary Jen Psaki confirmed to reporters during a press briefing that the Biden administration Won't extend student loan relief and the student loan payment pause will end January 31st 2022 No, Biden won't extend his student loan relief again. Here are some highlights from her comments in the coming weeks We will release more details about our plans. We will engage directly with federal student loan borrowers to ensure They have the resources they need and are in the appropriate repayment plan We are still assessing the impact of the Omicron variant a smooth transition back into repayment is a high priority for the administration The Department of Education is already communicating with borrowers to help them to help to prepare for return to repayment on February 1st Yeah, we know we've gotten the emails and the voicemails So helpful it doesn't really make me feel as if they're trying to help me I just get a sense of dread when I I see I see that I was called and I see the email. It's just it's It's so stressful and I've got to give credit to progressive lawmakers who have been very vocal about this They're not just calling on Biden to do the bare minimum like he promised 10,000 in cancellation But he won't even do that, but they're calling on him to cancel all of it because student loans Are a catch-22 it's a scam and Jamal Bowman in a speech that he made on the house floor recently broke it down in a brilliant way Student debt is a national crisis It was a crisis before the COVID-19 pandemic and it is an even bigger one now I can't think of a better opportunity to cancel student loan debt Today over 40 million borrowers Oh a combined 1.8 trillion dollars in loans and the share of people who are able to make payments high enough To reduce their principal balance has been rapidly declining That means for years people have been doing all they can to make monthly payments But can only afford to keep up with the interest at a cruise So if someone took out a $30,000 loan to go to a public state university But can only afford the minimum monthly payments to cover interests They can be paying hundreds of dollars every month for years Without seeing the total total amount they owe go down at all in fact Many borrowers see their debt increase Because they can't even keep up with the interest and he's absolutely correct It's a catch 22. It's a scam and honestly, it's a joke This is a debt that people just they will never overcome. They will have this for the rest of their lives Can't file bank rapsi to get rid of it. You can't do anything It's truly just It's ridiculous and to kind of demonstrate Jamal Bowman's point about how you can never get rid of this Well, I want to share a tweet from Michael Sonato friend of the show He shared how much payments he's made towards his student loans And look at where he's at now. So he originally borrowed about $73,000 He's already paid back a total of $96,000. But yet his remaining balance is $168,000 He's been making the payments consistently and now he owes double I mean with the interest rates, some people are never going To keep up. They'll keep making these incredibly high payments Even if you cap them, whatever the administration is going to do But it just it continues to grow This just has to be canceled. Again, it is so unfair that previous generations were able to go to college And pay it off and afford it. But this generation and Jen's ears If they want to go to college, which they need to do if they want to find a good paying job, we're told They're fucked. I mean, you can get rid of this dad Now I want to point you to a tweet made by a customer should in 2020. It was a great point So he says cancelling 1.7 trillion in taxes for 600 billionaires But not 1.7 trillion in student debt for the 45 million americans is the modern version of let them eat cake That's exactly it. And even the husband of the transportation secretary Has student loan debt. Justin buddha judge shared this image And he says lol. No, thank you. Merry christmas next And you know, I responded to this and I'm like motherfucker your husband is the transportation secretary So like I think you're gonna be fine. You'll probably be able to pay these off But why don't you tell your husband to talk to joe biden and convince him to cancel student debt? I just I mean if you have that opportunity if you're that close to power Maybe put in some Of an effort not just like joke about it on instagram. I just I don't know. I don't get it The aclu is also calling on the cancellation of student debt Saying during his campaign president biden promised voters broad student loan forgiveness as president He hasn't delivered student debt cancellation would help close the racial wealth gap while addressing the student debt crisis for millions biden must cancel student debt now Yeah, he must cancel student debt now imagine what would happen if he cancels student debt currently we see Democrats soundingly alarms about a sinking approval rating if he canceled student debt Can you imagine how popular he would be? Can you imagine how many more young people would come out and vote for him? Come out and vote for democrats in 2022 It's just it's such a missed opportunity Like the federal government holds the overwhelming majority Of student debt so he can wipe it away all Like that with the stroke of a pen, but he's choosing to not do that Because he's a prick so I mean look It's going to resume. I am not hopeful. Maybe you know Something will change and he'll choose to postpone it at least but i'm not holding my breath on cancellation I just think that a lot of this generation Is going to be stuck with student debt for the rest of our lives So when we're older, we'll still have our student debt and we'll be dealing with the climate apocalypse very very um Very hopeful situation to be in