Biden Extends Student-Loan Payment Freeze Through January
- Loan payment suspension was to expire end of September
- Roughly 41 million borrowers have benefited from the freeze
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The Biden administration will relieve Americans from paying their federal student loans through the end of January, extending the pause for what it says is the last time as the government seeks to keep the economic recovery rolling.
The move continues the suspension of payments for all loans owned by the Education Department, maintaining a 0% interest rate and keeping in place a freeze on the collection of defaulted debt. Payments will begin coming due again on Feb. 1.