Pause on Federal Student Loan Payments Extended Through May 1st
The Biden administration on Wednesday extended a student loan moratorium that has allowed millions of Americans to put off debt payments during the pandemic.
Under the action, payments on federal student loans will remain paused through May 1. Interest rates will remain at 0% during that period, and debt collection efforts will be suspended. Those measures have been in place since early in the pandemic, but were set to expire Jan. 31.
President Joe Biden said financial recovery from the pandemic will take longer than job recovery, especially for those with student loans.
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