The pause on student loan payments is set to expire on August 31, 2022.
Borrowers are wondering if there will be another extension or not.
Will the pause be extended again?
The US federal government put a pause on student loan payments in March 2020, but the most recent pause is set to expire on August 31, 2022. This means that payments will resume on September 1, 2022 unless President Joe Biden issues another extension.
Millions of borrowers had their student debt canceled during Biden’s term. However, no official decisions have been made yet on widespread student loan forgiveness.
There are several forces pushing Biden to cancel more debt before the pause is lifted. Restarting payments will force many borrowers and their families into financial instability. It is still unclear if Biden will extend the pause again or not.
Biden claimed that he would support legislation canceling a minimum of $10,000 of federal loans per borrower. However, the White House has been almost silent about student loans since he took office.