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.
The policy applies to more than 36 million Americans who have student loans that are held by the federal government., according to the latest Education Department data. About a third of borrowers are in default or delinquency and the average monthly payment is $400 a month.
The continued pause “will provide critical relief to borrowers who continue to face financial hardships as a result of the pandemic, and will allow our administration to assess the impacts of omicron on student borrowers,” Cardona said. The extension of the loan moratorium comes as decision whether to erase large swaths of student debt altogether is still on the table.Some Democrats are pushing for mass forgiveness of debt. But Biden has questioned whether he has the authority for that kind of mass cancellation, and legal scholars differ on that. Earlier this year, Biden asked the Education and Justice departments to study the issue. Officials have said that work is still underway.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Joe Biden may extend student loan repayment pause after widespread angerThe moratorium on loan repayments is set to end on February 1, despite the ongoing COVID-19 pandemic.
Weiterlesen »
Biden Extends Pause On Student Loan Payments Through May 1“We know that millions of student loan borrowers are still coping with the impacts of the pandemic,' the president said.
Weiterlesen »
Biden administration extends pause on student loan payment until MayThe pause on federal student loan payments was initially set to expire at the end of January.
Weiterlesen »
Alleged Jeffrey Epstein Victim May Depose Meghan Markle in Prince Andrew LawsuitThe lawyer for the alleged Jeffrey Epstein victim suing Prince Andrew said they may depose Meghan Markle if the lawsuit goes to trial.
Weiterlesen »
Mr. Big's Career May Be Dead, TooThe current cast of Sex and the City issued a statement of support for the women and Chris Noth is losing work.
Weiterlesen »