Pause on Student Loan Payments is Extended Through May 1

Photo by Gage Skidmore

WASHINGTON (AP) – The Biden administration is extending a student loan moratorium that has allowed tens of millions of Americans to put off debt payments during the pandemic.

Under the action Wednesday, payments on federal student loans will remain paused through May 1. Interest rates will remain at 0% during that period, and debt collection efforts will be suspended.

Those measures have been in place since early in the pandemic but were set to expire January 31.

This is the second extension from the administration. President Joe Biden says the administration understands that borrowers are still coping with the impact of the pandemic.

By Colleen Long, Associated Press

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Brendan, a recent graduate from the University of Massachusetts Amherst, is one of the newest members of the CapeCod.com NewsCenter team. When not on the beat, you'll probably find him watching Boston sports.



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