12/23/2021

The White House Extends Freeze on Federal Student Loan Repayments

The extension affects about 41 million borrowers

Citing the COVID-19 pandemic, President Joe Biden said on Wednesday that his administration had extended a moratorium on student loan repayments by 90 days, continuing a relief measure that began nearly two years ago under the Trump administration.

The extension affects about 41 million borrowers, including nearly 27 million who have not been paying their monthly bill since early 2020.

"While our jobs recovery is one of the strongest ever — with nearly six million jobs added this year," Biden said in a statement. "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."

Please select this link to read the complete article from The New York Times.