President Biden Extends Moratorium on Student Loans to 2022

President Joe Biden has extended the moratorium on student loan repayment, interest and collection until January 2022, the Department of Education announced Friday.

The White House has confirmed that this will be the final extension, having had a moratorium in place since the earliest days of the pandemic under former President Donald Trump.

“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 provided by the White House. “As our nation’s economy continues to recover from a deep hole, this final extension will give students and borrowers the time they need to plan for restart and ensure a smooth pathway back to repayment.”

“It is the Department’s priority to support students and borrowers during this transition and ensure they have the resources they need to access affordable, high quality higher education,” Cardona finished. (Read more from “President Biden Extends Moratorium on Student Loans to 2022” HERE)

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