White House Extends Student Loan Payment Freeze Through May 1

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White House Extends Student Loan Payment Freeze Through May 1

The Biden administration announced that the pause on federal student loan payments would be extended an additional 90 days amid growing concerns over the Omicron variant’s effect on the economy.

As you may have seen already, today the president announced that his administration is extending the pause on student loan repayments for an additional 90 days through May 1, 2022. We know some student loan borrowers are still coping with the pandemic and need some time before resuming payments, so this pause gives the administration time to manage the ongoing pandemic and further strengthen our economic recovery. In the meantime, the Department of Education — and they also issued a statement that hopefully you will have seen — will continue working with borrowers to support a smooth transition back into repayment and advance economic stability.

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