- Education Secretary Miguel Cardona said in a statement: “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.”
When do you have to start paying student debt again?
- Currently, the relief plan includes a freeze on federal student loan payments, which have had a 0% interest rate.
- There have been no collections made on the student loans, too.
More time for student debt repayment...the WH and Dept of Ed announced what it calls one final extension until Jan 31 2022. pic.twitter.com/auSlcEJC8l— Kelly O'Donnell (@KellyO) August 6, 2021
When did Biden decide to extend student debt relief?
- “I don’t have any information today. But this is a priority for us. Borrowers are in need of information, and they are also in need of relief,” Cardona said, according to Forbes.