The Biden administration is considering once again extending the freeze on federal student loan payments before it expires at the beginning of May
White House Chief of Staff Ron Klain said Biden would make a decision on whether to use executive action to cancel student debt “before the payments resume.” | Drew Angerer/Getty ImagesThe Biden administration is considering once again extending the freeze on federal student loan payments and interest for roughly 40 million Americans before it expires at the beginning of May, according to a top White House official.
Monthly payments and interest have been suspended on the vast majority of federal student loans since March 2020 when Congress passed the CARES Act. The Trump administration and then the Biden administration both used executive action to further extend that relief.is set to expire May 2. The Education Department has already extended some collections of defaulted loans until at least November.
Klain’s remarks are the clearest public comments from any Biden administration official in recent weeks indicating that the Education Department may further extend the freeze on federal student loan payments and interest. Klain also, for the first time, linked the Biden administration’s decision-making on whether to cancel student loan debt to the resumption of student loan payments.
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