Biden Extends Pause On Student Loan Payments Through May As Covid Cases Skyrocket Again
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Topline
The Department of Education on Wednesday announced the nationwide pause on federal student loan repayment will be extended again, from January 31 to May 1, giving borrowers three extra months before federal student loans are required and once again start accruing interest
Key Facts
Until the new deadline, borrowers won’t face additional interest, collections or be forced to make payments on federally backed student debt.
The move comes after the Education Dept. called its last extension, announced in August, the “definitive end date” for the pause on student loan repayment.
Former President Donald Trump first enacted the freeze at the height of pandemic uncertainty in March 2020.
Financial Services
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December 22, 2021 at 12:34PM
