WASHINGTON, D.C. -- The Biden administration plans to freeze federal student loan payments through Aug. 31, extending a moratorium that has allowed millions of Americans to postpone payments during the coronavirus pandemic, according to an administration official familiar with the White House's decision-making.Student loan payments were scheduled to resume May 1 after being halted since early in the pandemic.
Democrats on education panels in the House and Senate recently urged President Joe Biden to extend the moratorium through the end of the year, citing continued economic upheaval. Murray called on the Biden administration to lift all borrowers out of default to provide a"fresh start" following the pandemic.
"Serious delinquency rates for student debt could snap back from historic lows to their previous highs in which 10% or more of the debt was past due," the bank said.
Source: Education Headlines (educationheadlines.net)
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