Federal student loan repayment ‘pause’ extended through May 1

On Wednesday the Biden administration announced that it is extending the pause on federal student loan repayments for an additional 90 days – through May 1, 2022.
The pause was initiated on Biden’s first day in office to help Americans struggling to stay afloat during the financial crisis that came with the COVID-19 pandemic. It was set to expire in September, but in August it was extended through Jan. 21, 2022.
In a release, the White House stated, “Now, while our jobs recovery is one of the strongest ever – with nearly 6 million jobs added this year, the fewest Americans filing for unemployment in more than 50 years, and overall unemployment at 4.2 percent – we know that millions of student loan borrowers are still coping with the impacts of the pandemic and need some more time before resuming payments.”
The Dept. of Education will continue to work with borrowers to ensure they have the support they need to transition smoothly back into repayment.