Updated Jan. 21 at 3:10 p.m. ET
Following President Biden s executive action signed Wednesday, the Education Department extended pandemic relief for about 41 million federal student loan borrowers through Sept. 30. Too many Americans are struggling to pay for basic necessities and to provide for their families, the Education Department said in a statement. They should not be forced to choose between paying their student loans and putting food on the table.
In March 2020, borrowers were granted a reprieve on their loan payments interest was set to 0% and collections of defaulted federal student loans were paused. Congress initiated this relief in the CARES Act. Both President Donald Trump and, later, Education Secretary Betsy DeVos, extended it.
Updated Jan. 21 at 3:10 p.m. ET
Following President Biden s executive action signed Wednesday, the Education Department extended pandemic relief for about 41 million federal student loan borrowers through Sept. 30. Too many Americans are struggling to pay for basic necessities and to provide for their families, the Education Department said in a statement. They should not be forced to choose between paying their student loans and putting food on the table.
In March 2020, borrowers were granted a reprieve on their loan payments interest was set to 0% and collections of defaulted federal student loans were paused. Congress initiated this relief in the CARES Act. Both President Donald Trump and, later, Education Secretary Betsy DeVos, extended it.
Updated Jan. 21 at 3:10 p.m. ET
Following President Biden s executive action signed Wednesday, the Education Department extended pandemic relief for about 41 million federal student loan borrowers through Sept. 30. Too many Americans are struggling to pay for basic necessities and to provide for their families, the Education Department said in a statement. They should not be forced to choose between paying their student loans and putting food on the table.
In March 2020, borrowers were granted a reprieve on their loan payments interest was set to 0% and collections of defaulted federal student loans were paused. Congress initiated this relief in the CARES Act. Both President Donald Trump and, later, Education Secretary Betsy DeVos, extended it.
Advocates continue to press the incoming administration to cancel a portion of the student debt held by about 45 million Americans, but they are losing hope that Biden will take executive action.