LAST BREAK

Biden Admin Halts Student Loan Payments Through January in Final Extension

Payments were expected to start up again in October.

The Biden administration has delayed the collection of federal student loan payments to Jan. 31, 2022, the final extension on the pandemic-related halt. The freeze on payments was set to expire on Sept. 30 before Friday’s announcement. “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 national emergency,” Education Secretary Miguel Cardona said in a statement, per Forbes. “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.”

Student loan payments were first halted by the Trump administration last year due to the COVID-19 pandemic, with interest rates also set to zero percent. Democrats have pleaded for President Biden to take more action on student loans, including canceling a wide swath of student loan debt.