Private student lenders have been trying to make the Biden government restart federal student payments which were earlier put at pause due to the pandemic moratorium. But the pause has profoundly affected them. Due to the emergency relief fund, the interest and monthly payments of almost 40 million borrowers were suspended. Several money lending institutions have argued that this suspension is unfair as it is causing unnecessary inflation and people do not need it since things have gotten back on track after the pandemic. Because of this a lot of money lenders have reached out to the Democratic and the Republican offices to resume the interest payments.
