With COVID-19 continuing to surge throughout the nation, President Joe Biden has put another pause on student loan payments.
The payments were originally set to restart on Feb. 1, 2022, but they will now be extended until the first of May.
Two weeks ago, White House Press Secretary Jen Psaki confirmed that the administration was still planning to restart student loan payments in February, even though they were being pressured by other Democrats who wanted an extension.
Biden said during his presidential campaign that he was in favor of canceling $10K of student debt per borrower, but has not taken any action to do so yet. Others have tried to budge him to cancel up to $50K per borrower.
Most people with student loans haven’t had to pay since March 2020, and with this new extension, it looks like borrowers will get a little more breathing room.
