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White House extends freeze on student loan payments until May 1

new video loaded: White House extends freeze on student loan payments until May 1

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White House extends freeze on student loan payments until May 1

The Biden administration has announced that the hiatus on federal student loan payments will be extended for an additional 90 days amid growing concerns about the effect of the Omicron variant on the economy.

As you may have already seen, the President today announced that his administration is extending the pause on student loan repayments by an additional 90 days until May 1, 2022. We know some student loan borrowers are doing so. still facing the pandemic and need time before payments resume, so this break gives the administration time to deal with the ongoing pandemic and further strengthen our economic recovery. In the meantime, the Department of Education – and they also released a statement that you will hopefully see – will continue to work with borrowers to foster a smooth transition to repayment and advance economic stability.

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