Biden administration extends federal student loan repayment pause through January
(Gray News) - The U.S. Department of Education announced Friday it is extending its pause on federal student loan repayment, interest and collections through Jan. 31, 2022.
The suspension was supposed to end on September 30, but Democrats in Congress had been urging the president to push the date back.
The department says this will be the final extension of the moratorium.
“The payment pause has been a lifeline that allowed millions of Americans to focus on their families, health, and finances instead of student loans during the national emergency,” said U.S. Secretary of Education Miguel Cardona.
A release from the education department says they will begin notifying borrowers about the extension in the coming days and will provide resources and information about how to plan for payment restart.
The suspension was put into place last year as a way to help borrowers dealing with financial hardship due to the COVID-19 pandemic.
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