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WASHINGTON—(77WABC)
The Biden administration announced Friday it will extend the payment pause for federal student loan borrowers through January 2022.
Since March 2020, the borrowers have been given the option to press the pause button on their monthly bills, without interest accruing on their debt.
Some 90% of borrowers have been doing so.
The pause was scheduled to expire next month.
President Biden has been under pressure from Democrats and advocates to give the 42 million Americans with student debt more time.
On my first day in office, I directed the Department of Education to pause federal student loan repayments for millions of Americans until September. The pause has been a critical lifeline — that’s why today, my administration is extending the pause until January 31, 2022.
— President Biden (@POTUS) August 6, 2021
