Biden extends pause on student loan repayment through May 1 [View all]
Source: CNN
Washington (CNN) President Joe Biden announced Wednesday he is extending the pause on student loan payments until May 1.
The payments, which were set to restart on February 1, have been paused since the beginning of the pandemic. Biden pointed to the ongoing Covid-19 crisis in the country as the reason for the extension.
"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," Biden said in a statement. "Meanwhile, the Department of Education will continue working with borrowers to ensure they have the support they need to transition smoothly back into repayment and advance economic stability for their own households and for our nation."
The reversal comes less than two weeks after White House press secretary Jen Psaki had indicated that the administration was still planning to restart federal student loan payments in February, resisting pressure from some fellow Democrats who have been calling for an extension of coronavirus pandemic relief benefits.
Read more: https://www.cnn.com/2021/12/22/politics/student-loan-pause-biden/index.html
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