The Biden administration is extending a moratorium on federal student-loan payments through January 31. The Education Department announcement on Friday follows an earlier extension made during Joe Biden’s early days as president. Prior to the extension, the moratorium was set to expire at the end of September, according to the Wall Street Journal. “The department […]
The Biden administration is extending a moratorium on federal student-loan payments through January 31.
The Education Department announcement on Friday follows an earlier extension made during Joe Biden’s early days as president.
Prior to the extension, the moratorium was set to expire at the end of September, according to the Wall Street Journal.
“The department believes this additional time and definitive end date will allow borrowers to plan for the resumption of payments and reduce the risk of delinquency and defaults after restart,” a statement read. “The department will continue its work to transition borrowers smoothly back into repayment, including by improving student loan servicing.”
