Date : 09 August 2021
Location : United States

The federal government has extended the student loan repayments until the 31st of January, 2022. This decision was announced by the administration of president Joe Biden. The press release has been issued from the US department’s education departments. The press release mentioned that the “department has issued extra time to the borrowers for planning the resumption of the payments. This extension will also reduce the risks of defaults and delinquency after the restart from pandemic”.

30th September 2021 was the prevision date for closing the COVID-19 pandemic relief pause on the student’s loan payment. The decision of extension was supported due to the increment in the number of the delta variant of the COVID pandemic in the USA.

Miguel Cardona who is US Secretary of Education said that “the economy of our nation is coming out of a deep hole as we recover from the pandemic impact. And this extension will help the borrowers to plan the time for repeating the payment they have received through the loan.” She further added that the government will always be helpful towards the students and the borrowers along with the process of this transition.

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