Student loans and their repayments have been paused for quite some time now, and the pause will be extended for another four months.
The pause started in March of 2020 under President Donald Trump, and was extended under President Joe Biden until May 1, 2022.
Under this new extension, the repayments wouldn’t begin until Aug. 1, 2022.
The announcement was made Tuesday, but is expected to be officially announced on Wednesday, April 6.
Lawmakers penned a letter in March asking the president to extend the pause.
According to The Sun, big Democrats to sign the letter included Senate Majority Leader Chuck Schumer, Senator Elizabeth Warren, and House Majority Whip James Clyburn.
The letter asked for more than what Biden is giving.
In the letter, lawmakers asked for the extension to go until the end of 2022.
They also asked for more meaningful debt cancellation.
The extension in May was originally labeled the final extension, which is not the case.
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