The Biden Administration on Friday announced it will be extending the ‘pause’ on federal student loan payments until January 31, 2022.
The previous pause on repayment was set to expire at the end of September.
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Secretary of Education Miguel Cardona announced a ‘final extension’ of the pause on student loan repayment, interest and collections until January 31.
“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 nations emergency,” Secretary Cardona said in a statement. “As our nation’s economy continues to recover from a deep hole, this final extension will give students and borrowers the time they need to plan for restart and ensure a smooth pathway back to repayment.”