Biden extends student loan moratorium until January 2022


On Aug. 6, President Joe Biden announced his administration would be extending the student loan moratorium from the original end date in September 2021, allowing borrowers to pause repayment until Jan. 31, 2022. 

The loan moratorium initially began on March 13, 2020 and is a period of suspended federal loan payments, frozen interest rates for loans accruing interest and a pause on defaulted loan collection for borrowers across the country. 

The relief measures are selective and determined by the ownership of the loan, meaning only a subset of loans are “eligible” for this suspension. While defaulted and non-defaulted loans owned by the U.S Department of Education, defaulted HEAL loans and non-defaulted Federal Family Education Loan (FFEL) Program loans all qualify for relief, commercially-owned lender loans, school-owned loans and private loans do not.

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