EXPLAINER: Biden extends student loan freeze through August

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The Biden administration has said that federal student loan payments will remain paused through Aug. 31. Here's what that means for borrowers, who is eligible, and why the program was extended.

, including the Direct Loan Program, which issues subsidized and unsubsidized student loans. It does not apply to private loans issued by banks or schools. The latest federal data show that more than 43 million Americans have student loans amounting to a combined $1.6 trillion.The freeze has been extended multiple times as a reprieve for Americans facing financial hardship during the pandemic.

Kristin McGuire of Covina, California said the freeze has given her a break from her $50,000 in student debt, allowed her to repair her credit and refinance her home with her husband. But she said the piecemeal extensions have brought their own stress.

 

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That way when people have to make that payment right before voting in November midterms it’s fresh on their mind Joe Biden lied about canceling it. A true tactician

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While prices on everything else will be going up

Should I stop mailing Box Tops to SallieMae

Once again teaching individuals that they do not have to be responsible for commitments that they make. anythingforavote

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Biden extends student loan repayment pause until Aug. 31, saying US 'still recovering' from COVID-19President Biden announced the expansion of student debt payment freezes, citing the continued economic hardships brought on by the COVID-19 pandemic.
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