Federal Student Loan Repayment , Pause Extended Through August.
Federal Student Loan Repayment , Pause Extended Through August.
CNN reports the pause on federal student
loan repayments has been extended yet
again by the Biden administration.
Borrowers will now have until August 31
to forego student loan repayments.
The pause on loan repayments has
been in effect since the onset of
the COVID-19 pandemic.
Most recently, the freeze was
scheduled to expire on May 1.
President Biden believes the U.S. economy is on the rebound but acknowledged that...
... “we are still recovering from the pandemic and
the unprecedented economic disruption it caused.”.
That additional time will assist borrowers in achieving greater financial security and support
the Department of Education’s
efforts to continue improving
student loan programs. , President Joe Biden, via statement.
A handful of Democratic lawmakers, such as
Senate Majority Leader Chuck Schumer
and Senator Elizabeth Warren.
have called on the president to
cancel $50,000 of student loan debt
for each borrower.
While campaigning for office, Biden vocally supported
student debt cancellation, but since becoming president,
he has avoided any executive action