The moratorium on loan repayments is set to end on February 1, despite the ongoing COVID-19 pandemic.
A spokesperson for the Department of Education indicated in a statement on Tuesday the department was considering extending the interest-free payment pause, with a decision possible as early as this week.PA Public Workers Will No Longer Pay Taxes on Forgiven Student Loans
"Since day one of the Biden administration, we've been hard at work delivering meaningful relief to student loan borrowers," the statement said. "That started with an extension of the pause on federal student loan repayment until January 31, 2022. To date, the pause has saved 41 million borrowers tens of billions of dollars," the spokesperson added.
When asked about extending the repayment pause at a press briefing on Tuesday, White House Press SecretaryIf the Biden administration decides to extend the pause, the decision may be seen as yet another U-turn. The White House recently announced that the federal governmentwho want them, in a reversal of its previous position.
The repayment pause was first put into place in September 2020 under the terms of the CARES Act in response to the COVID-19 pandemic. It was extended by former President
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