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Biden extends federal student loan repayment pause for additional 90 days

Biden extends federal student loan repayment pause for additional 90 days
Pause extended through May 1 due to pandemic, economic recovery

By Ovunc Kutlu

ANKARA (AA) - The administration of US President Joe Biden extended a pause on federal student loan repayments for 90 days, the White House said Wednesday.

The extension is through May 1 as the US manages the ongoing coronavirus pandemic and the economic recovery, it said.

It is the third relief provided for 41 million students, after Biden paused student loan repayments in January through September and later announced in August he was extending the pause through January 31.

"We know that millions of student loan borrowers are still coping with the impacts of the pandemic and need some more time before resuming payments," Biden said in a statement.

The Education Department will continue working with borrowers to ensure they have the support they need to transition smoothly back into repayment, he added.

Biden urged borrowers to prepare for payments to resume, look at options to lower payments through income-based repayment plans and explore public service loan forgiveness.

The total student loan debt in the US was more than $1.76 trillion with almost $41,000 per student, according to data from usdebtclock.org.


source: News Feed
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