Biden plans to extend payment pause for student loan borrowers until October 2021

Personal Finance

US President-Elect Joe Biden speaks at Major Joseph R. “Beau” Biden III National Guard /Reserve Center in New Castle Airport on January 19, 2021, in New Castle, Delaware, before departing for Washington, DC.

Jim Watson | AFP | Getty Images

President Joe Biden on Wednesday plans to extend the payment pause on federal student loans through at least September 2021.

The executive order will be one of Biden’s first acts as president.

The U.S. Department of Education announced in March that borrowers wouldn’t have to pay their student loan bills or worry about interest accruing for 60 days. That relief has repeatedly been extended but was set to expire at the end of this month.

The continued pause on payments and accruing interest on federal student loan debt gives further relief to 42 million student loan borrowers.

Products You May Like

Articles You May Like

House won’t vote on Biden’s comprehensive immigration plan this month, will focus on smaller bills
LGI Homes CEO expects housing demand to remain strong even as mortgage rates tick up
How to cut costs at the pump as gas prices keep rising
Jack Dorsey is offering to sell the first tweet as an NFT and the highest bid is $2.5 million
U.S. hits record daily Covid vaccinations but health officials warn against loosening restrictions

Leave a Reply

Your email address will not be published. Required fields are marked *