Biden Extends, Pause on , Student Loan Payments.<br />On April 6, President Joe Biden announced <br />that a pause on federal student loan payments <br />will now be extended until August 31.<br />On April 6, President Joe Biden announced <br />that a pause on federal student loan payments <br />will now be extended until August 31.<br />ABC reports that this is the sixth extension <br />that has been put in place since the <br />pandemic began over two years ago. .<br />The decision comes less than <br />a month before payments were <br />scheduled to begin again in May. .<br />The extension potentially affects millions <br />of people who would have otherwise <br />been unable to make their payments.<br />As I recognized in recently extending <br />the COVID-19 national emergency, <br />we are still recovering from the <br />pandemic and the unprecedented <br />economic disruption it caused, Joe Biden, President of the United States, via ABC.<br />If loan payments were to resume on schedule <br />in May, analysis of recent data from the <br />Federal Reserve suggests that millions <br />of student loan borrowers would face <br />significant economic hardship, and <br />delinquencies and defaults could<br />threaten Americans’ financial stability, Joe Biden, President of the United States, via ABC.<br />If loan payments were to resume on schedule <br />in May, analysis of recent data from the <br />Federal Reserve suggests that millions <br />of student loan borrowers would face <br />significant economic hardship, and <br />delinquencies and defaults could<br />threaten Americans’ financial stability, Joe Biden, President of the United States, via ABC.<br />NBC reports that Biden has faced <br />pressure from fellow Democrats to either<br />pause or cancel student loan debt. .<br />The issue of student loan debt <br />will reportedly play a role in midterm <br />elections around the country. .<br />Progressive Democrats have reportedly <br />criticized the administration for the <br />ongoing uncertainty borrowers face. .<br />NBC points out that Biden promised $10,000 in student <br />loan forgiveness for borrowers during his election <br />campaign but has yet to make that promise a reality.
