Student loan payments were scheduled to resume May 1 after being halted since early in the pandemic. The action applies to more than 43 million Americans who owe a combined $1.6 trillion in student debt held by the federal government. The decision is being made amid rising concern that large numbers of Americans would quickly fall behind if payments restarted in May.
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The Guardian
Biden extends pause on federal student loan payments to end of August
Nearly 37 million borrowers have been affected by the pause, with a delay of $195bn of payments since start of pandemic
Story at a glance President Biden issued his fourth extension of the moratorium on student loan repayments Wednesday. The pause was issued through the HEROES Act, national emergency relief legisla…