Biden-Harris Administration Extends Student Loan Pause Through May 1
Through May 1
extension of the pause on student loan repayment, interest, and collections through May 1, 2022.
has focused on supporting students and borrowers throughout
the pandemic and ensuring they have the resources they need
to return to repayment successfully,” said U.S. Secretary of
Education Miguel Cardona.
provide critical relief to borrowers who continue to face financial hardships as a result of the pandemic, and will allow our Administration to assess the impacts of Omicron on student
borrowers. As we prepare for the return to repayment in May,
we will continue to provide tools and supports to borrowers
so they can enter into the repayment plan that is responsive to
their financial situation, such as an income-driven repayment
plan. Students and borrowers will always be at the center of
our work at the Department, and we are committed to not
only ensuring a smooth return to repayment, but also increasing accountability and stronger customer service from our loan servicers as borrowers prepare for repayment.”
borrowers save $5 billion per month. Borrowers are encouraged to use the additional time to ensure their contact information is up to date and to consider enrolling in electronic debit and income-driven repayment plans to support a smooth transition to repayment. More information can be found at StudentAid.gov.
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