BREAKING: President Biden Extends Pause In Federal Student Loan Payments Until May 1
The Biden administration has decided to extend the pause in federal student loan payments another 90 days.
The President announced the extension in a Wednesday statement saying, “Now, while our jobs recovery is one of the strongest ever,” Biden said, “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.”
He added, “Given these considerations, today my Administration is extending the pause on federal student loan repayments for an additional 90 days — through May 1, 2022 — as we manage the ongoing pandemic and further strengthen our economic recovery.” The current pause on payments was set to expire on Jan. 31, and Millions of borrowers were set to resume payments starting in February after a nearly two-year hiatus.
Democrats and advocates have been pressuring President Joe Biden to give the 42 million Americans with student debt more time, with some even urging him to cancel it entirely. However, back in July, Nancy Pelosi said in a press briefing that President Joe Biden doesn’t have the authority to forgive student debt.
She simply explained that student debt forgiveness would have to be carried out by Congress. Though other people in her party have said otherwise.
Press Play Below For More:
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