Will President Biden extend the pause on student loan payments? Borrowers left wondering as deadline draws closer

The pause on federal student loan payments is set to expire at the end of this month, but despite the looming deadline, millions of Americans do not have guidance as to whether those payments will actually resume for the first time in more than two years. 

Federal student loan payments have been on hold for roughly 40 million Americans since the beginning of the coronavirus pandemic. Interest on those loans has also been set at zero percent for the duration of the pause. 

Most recently, the Biden administration in April extended the pause through August 31. At the time, the White House said the president would make a decision about canceling student loan debt before the pause expired or it would be extended.