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Biden extends suspension of student loan repayments

2021-08-06T21:45:23.783Z


The Biden administration announced in a press release on Friday that it would extend by four months, until January 30, 2022, a deadline on the reimbursement of ...


The Biden administration announced in a press release on Friday that it would extend by four months, until January 30, 2022, a deadline on the repayment of student loans, to take into account the financial difficulties linked to the Covid-19 pandemic.

Read also: Foreign students in the red zone finally authorized to come to France

The Ministry of Education indicates that this is

"a final deadline"

, and hopes that this new schedule

"will allow borrowers to schedule the resumption of repayments and that this will reduce the risk of default."

The suspension of student loan repayments was one of the components of an emergency plan for the pandemic decided in March 2020 by the Trump administration.

$ 1,700 billion

The debt accumulated by Americans in general, and to finance their education in particular, has continued to swell in recent years. According to a report from the American central bank, the Fed, dating from June 2021, the total amount of student loans in the United States now reaches 1.7 trillion dollars, the second largest item of household debt behind real estate.

Source: lefigaro

All business articles on 2021-08-06

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