EUGENE, Ore. – The hiatus on federal student loan payments has been extended once again. It affects more than 40 million Americans.
The residents of Eugene told KEZI they heaved a sigh of relief.
President Biden announced the extension on Friday, saying the economy continues to recover from a deep hole caused by the pandemic. This is the fourth time that the federal government has extended the payment freeze.
Initially, the hiatus would have ended on September 30, 2021, but the payment freeze is now extended until January 31, 2022.
Many members of the Eugene community told KEZI they were very supportive of the expansion, saying it was only just after 15 such brutal months due to the pandemic. Especially for those who have just graduated from college.
âYou walk into this world with this big monkey on your back, and so anything they can do to alleviate or certainly alleviate student loans would be great,â said David Richman.
The freeze initially put in place by Congress was extended by the Trump and Biden administrations.
While community members and congressmen are happy Biden has extended the break, many are now pressuring him to write off student debt.
âThey should get rid of student loans. Just forgive them and start over. It’s about time,â Richman said.
Marli Miller, professor of earth sciences at the University of Oregon, said she fully supports the extension of the student loan payment hiatus.
âIf the students are able to move on with their lives and don’t have to worry so much about it, I think it’s better for all of us,â Miller said.
Borrowers will be notified of the new extension in the coming days.