Biden Administration extends student loan relief into 2022

The Biden Administration announced on Friday it is extending its pause on student loan payments and interest through Jan. 31, 2022. 

The Department of Education said it will be its “final extension of the pause on student loan repayment, interest, and collections,” stating they feel it’s a necessary move to allow borrowers more time to plan to begin repayments to avoid defaults and delinquency.  “The payment pause has been a lifeline that allowed millions of Americans to focus on their families, health, and finances instead of student loans during the national emergency,” Education Secretary Miguel Cardona said in a statement.