Federal Student Loan Repayment Pause Extended Through August

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