Biden Freezes Student, Loan Payments Until May 1.<br />NPR reports President Biden has extended the freeze on student loan payments until May 1, 2022.<br />The freeze will reportedly offer relief for nearly <br />41 million federal student loan borrowers.<br />We know that millions of student <br />loan borrowers are still coping with <br />the impacts of the pandemic <br />and need some more time <br />before resuming payments. , President Joe Biden, via statement.<br />Before Biden's announcement, payments <br />were to resume in February.<br />Student loan payments have been on pause <br />since the onset of the pandemic.<br />Student loan payments have been on pause <br />since the onset of the pandemic.<br />In a recent survey, 49% of borrowers <br />said they were "not at all confident" <br />they could restart payments in February.<br />In a recent survey, 49% of borrowers <br />said they were "not at all confident" <br />they could restart payments in February.<br />We don't need to <br />start the student loan system right now. , Mike Pierce, executive director at the<br />Student Borrower Protection Center, via NPR.<br />Over 7 million student borrowers in the United States have defaulted on their loans.<br />Experts say borrowers who have defaulted <br />on loans could have an extremely difficult <br />time when payments resume.<br />Experts say borrowers who have defaulted <br />on loans could have an extremely difficult <br />time when payments resume.<br />Defaulted borrowers <br />are really balancing on <br />the edge of life here. , Mike Pierce, executive director at the Student Borrower Protection Center, via NPR.<br />Defaulted borrowers <br />are really balancing on <br />the edge of life here. , Mike Pierce, executive director at the Student Borrower Protection Center, via NPR
