President Biden announced on Wednesday that his administration will extend the pause on student loan repayments until May 1

President Joe Biden announced on Wednesday that his administration will extend the pause on student loan payments until May 1 — moving that date back from February 1. In a statement, Biden said he put this extension in place because of the ongoing COVID-19 pandemic and to “further strengthen our economic recovery.”

The Biden administration 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.

The Biden administration has extended a moratorium on student loan payments until May 1 as omicron surge hits the U.S. The moratorium has been in place since early in the pandemic, but was set to expire on Jan. 31.

What people are saying?

JoshD Good, now hopefully that means hope isn’t lost for some movement towards debt cancellation. Either way it gets my wife 3 months closer to being able to have them forgiven in a years time thanks to the changes they made to the loans that qualify so.

Thomas Casey The size of the facility will remain $100 billion, and TALF will continue to support the issuance of asset-backed securities that fund a wide range of lending, including student loans, auto loans, and credit card loans.