The White House on Friday extended a pause on federal student loan repayments, delaying them until Jan. 31, 2022, according to a statement from the Department …
The White House on Friday extended a pause on federal student loan repayments, delaying them until Jan.31,2022, according to a statement from the Department of Education. The reason why, according to the agency, is because federal officials believe “this additional time and a definitive end date will allow borrowers to plan for the resumption of payments and reduce the risk of delinquency and defaults.” The pause will be the final one, the department added. Student loan payments were placed on hold last year due to the COVID -19 pandemic. The moratorium was slated to expire on Sept.30. Congressional Democrats had urged the White House to push back the date due to the COVID-19 “Delta” variant. Now the department, the statement said, will start notifying borrowers about the final extension in the coming days and provide “resources and information about how to plan for payment restart as the end of the pause approaches.
