Monday, November 28, 2022

Biden to extend student loan repayment freeze as relief program is tied up in courts

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WASHINGTON, DC– The Biden administration is again extending the pause in federal student loan payments, a benefit that began in March 2020 to help people struggling financially due to the Covid-19 pandemic, a source familiar with the plan said .

The Department of Education will announce it is extending the freeze for another six months, with the first payments two months after March 30.

The administration had previously said the latest extension would be the last, and payments were due to resume in January.

However, the government had also intended its student loan forgiveness program to begin canceling up to $20,000 in debt for low- and middle-income borrowers before January. The program has yet to be implemented as it faces several legal challenges.

This story breaks and is updated.

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