Monday, September 26, 2022

Joe Heard Ya! Biden to Extend Pause in Student Loan Payments

President Joe Biden / Getty
President Joe Biden / Getty

*The Biden administration has decided to extend the pause in federal student loan payments another 90 days.

The President announced the extension in a Wednesday statement saying, “Now, while our jobs recovery is one of the strongest ever,” Biden said, adding, “we know that millions of student loan borrowers are still coping with the impacts of the pandemic and need some more time before resuming payments.”

He went on to say, “Given these considerations, today my Administration is extending the pause on federal student loan repayments for an additional 90 days — through May 1, 2022 — as we manage the ongoing pandemic and further strengthen our economic recovery.” The current pause on payments was set to expire on Jan. 31, and Millions of borrowers were set to resume payments starting in February after a nearly two-year hiatus.

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