Student Loans Are Set to Be Paused Again, Pushing Payments to September?
Student Loans Are Set to Be Paused Again, Pushing Payments to September? The White House is expected to announce the pandemic relief program's sixth extension, which will effect tens of millions of borrowers. According to an administration official briefed on the situation, President Biden will allow millions of federal student loan borrowers to put their payments on hold until Aug. 31, the latest extension of a crisis relief package that began more than two years ago. The stoppage would be the sixth since the pandemic began, and it would come less than a month before payments were set to resume, affecting tens of millions of debtors, including 35 million who have not been making payments that would have been due. Those debts haven't accrued interest, and seven million defaulted borrowers have been spared wage garnishments and other collection measures. According to an administration official who was not authorised to speak about the preparations before the announcement, the e...