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Tipsheet

Biden Just Delayed Paying Student Loans...Again

AP Photo/Patrick Semansky

President Joe Biden announced Wednesday afternoon he is extending the moratorium on student loan payments until next year. He's using the latest variant of Wuhan coronavirus as the reason why. 

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"While our jobs recovery is one of the strongest ever — with nearly 6 million jobs added this year, the fewest Americans filing for unemployment in more than 50 years, and overall unemployment at 4.2 percent — we know that millions of student loan borrowers are still coping with the impacts of the pandemic and need some more time before resuming payments. This is an issue Vice President Harris has been closely focused on, and one we both care deeply about," Biden released in a statement. 

"Given these considerations, today my Administration is extending the pause on federal student loan repayments for an additional 90 days — through May 1, 2022 — as we manage the ongoing pandemic and further strengthen our economic recovery. Meanwhile, the Department of Education will continue working with borrowers to ensure they have the support they need to transition smoothly back into repayment and advance economic stability for their own households and for our nation," he continued. 

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There are millions of job openings around the country. The latest virus variant is mild.  

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