Biden admin extends student loan payment pause through January

The Biden administration on Friday extended student loan debt relief for Americans by continuing a pause on payments through the end of January 2022.

The Biden administration will relieve Americans from paying their federal student loans through the end of January 2022, extending the pause for the last time as the government seeks to keep the economic recovery rolling. The move continues the suspension of payments for all loans owned by the Education Department, maintaining a 0% interest rate for the loans and keeping in place a freeze on the collection of defaulted loans. Loan payments will begin coming due again on February 1. All of the loan measures, first adopted in March 2020, were to expire at the end of September. The administration intends for this to be the final extension of the protections and announced the extension Friday to give certainty to borrowers and loan servicers alike, a person familiar with the matter said on the condition of anonymity to preview the plan.