Student Loans Are Set to Be Paused Again, Pushing Payments to September
President Biden will allow millions of federal student loan borrowers to freeze their payments until Aug.
Lack of Loan Servicer Communications on Repayment Is Clear Sign That Extension of the Student Loan Payment Pause is Likely!
Millions of federal student loan borrowers have not had to pay their student loans for over two years. But the payment pause is set to end on May 1, which is in just 26 days.
The CARES Act, which Congress enacted in March 2020 in response to the Covid-19 pandemic, is responsible for the long-running pause on most student loan payments.
Throughout the past six months, the Biden administration has been engaged in negotiated rulemaking, which is a process to overhaul key federal student loan programs.
Student loan borrower activists, advocates, and allies have been dramatically increasing the pressure on Biden to act.
The Biden administration may also be taking into account political considerations in light of the midterm elections this November!