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Biden Administration Will Extend Student Loan Pause To 2022

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Washington D.C. Capitol

The Biden administration announced Friday to extend the pause on federal student loan payments to January 31, 2022.

The administration characterized the decision as the “final” extension of student loan relief.

The student loan moratorium, which has suspended payments, interest, and collections on most federal student loans since March 2020, had been set to expire on September 30, 2021 after several extensions. 

Student loan borrowers should plan on their payments resuming by February of 2022.

“The payment pause has been a lifeline that allowed millions of Americans to focus on their families, health, and finances instead of student loans during the national emergency,” said Education Secretary Miguel Cardona in a statement on Friday. “As our nation’s economy continues to recover from a deep hole, this final extension will give students and borrowers the time they need to plan for restart and ensure a smooth pathway back to repayment.”

The payment moratorium does not apply to borrowers with privately held loans.

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