8 million student-loan borrowers enrolled in Biden's new repayment plan won't have to make payments for at least another 6 months
The Education Department extended the student-loan payment pause by at least 6 more months for borrowers on the SAVE plan.
Biden administration extends repayment freeze for 8 million student loan borrowers
Student loan payments for people enrolled in the Biden administration's SAVE plan will remain on hold for at least six more months.
It could be well into next year before some student loan borrowers make a payment
With income-driven repayment plans tied up by the courts, the Education Department on Monday scrambled to give millions of borrowers options.
Student Loan Payment Pause Extended for 6 More Months for SAVE Borrowers
If you have federal student loans, your monthly payments may be on hold for even longer. Payments were paused for millions of borrowers enrolled in the Biden administration-led Saving On A Valuable Education student loan relief plan earlier this summer and will remain on hold for at least six more months,
Student loan forgiveness: Payment pause extended for 6 months for 8 million borrowers
Payments for some student loans will remain on pause for at least the next six months, according to the U.S. Department of Education.
8 million student loan borrowers won't have to make payments until April
The Biden administration is extending a pause of student loan payments for 8 million borrowers amid a court battle.
President Biden extends student loan payment pause
Federal student loan payments for some eight million borrowers will remain on pause for six months or longer, according to a spokesperson for the U.S. Department of Education. The borrowers who are excused from their monthly payments are those enrolled in the Biden administration's new Saving on a Valuable Education (SAVE) plan.
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Biden administration forgives $4.5B in student debt for public service workers
The president said that more than 1 million public servants to date have had their federal student debt canceled.