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(CNN) -
US President Joe Biden announced Wednesday that he is extending the pause on student loan payments until May 1.
Payments, which were due to resume on February 1, have been on hiatus since the start of the pandemic.
Biden pointed to the current Covid-19 crisis in the country as the reason for the extension.
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"With these considerations in mind, my Administration today extends the federal student loan pause for an additional 90 days - through May 1, 2022 - as we manage the ongoing pandemic and further strengthen our economic recovery," said Biden. it's a statement.
"In the meantime, the Department of Education will continue to work with debtors to ensure they have the support they need to transition smoothly back into payment and advance economic stability for their own homes and for our nation," he added.
The change comes less than two weeks after White House Press Secretary Jen Psaki indicated that the administration was still planning to resume payments on federal student loans in February, resisting pressure from some fellow Democrats who have been asking for an extension of the benefits of aid for the pandemic of the covid-19.
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Politico reported the possible extension for the first time.
Debtor balances have been effectively frozen for nearly two years, with no payments required on most federal student loans since March 2020. During this time, interest has stopped adding and collections on unpaid debt have been paused.
Both Biden and former President Donald Trump took steps to extend the hiatus.
More recently, Biden moved the restart date for payments from September 30, 2021 to January 31, 2022, but the government made it clear at the time that that would be the last extension.
Biden said in the statement that he was also "asking all student loan debtors to do their part as well: make the most of the Department of Education's resources to help prepare for the resumption of payments; look for options to reduce your payments to through income-based repayment plans; explore public service loan forgiveness; and make sure to get vaccinated and boosted when eligible. "
Joe Biden student loans
