From Axios.com…
The Biden administration has extended pandemic relief for student debt through Jan. 31, 2022, the Department of Education announced on Friday.
Driving the news: The Education Department said it’s the final extension of the freeze on federal loan payments, which has maintained a 0% interest rate and pause on collections of defaulted loans. The current moratorium on payments was originally scheduled to end on Sept. 30.
- Americans owe about $1.6 trillion in student loans. Without an extension, more than 3o million people would’ve had to start making student loan repayments in October, even as the pandemic raged on.
