The Biden administration on Wednesday extended a pandemic-era student loan moratorium that was set to expire on January 31, allowing millions of Americans to continue to put off debt payments until May 1.
The move keeps interest rates at 0 percent during that period and suspends debt collection efforts — measures that were first put in place early in the Covid-19 pandemic.
The extension comes amid concerns about a surge in Covid-19 cases as the highly-transmissible Omicron variant spreads in the U.S.
"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," President Biden said in a statement.
Comments
Post a Comment