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Fiscal Cliff Nears for U.S. Families as Pandemic Benefits Fade

  • Student loan freeze, child tax credits may both end in January
  • Schumer calls on Biden to extend student loan moratorium
On Jan. 15 many families will lose payments from a temporary expansion of the child tax credit.

On Jan. 15 many families will lose payments from a temporary expansion of the child tax credit.

Photographer: Michael Nagle/Bloomberg

For Americans worried about rising prices and shrinking household budgets, January could bring another blow to the bottom line.

At the end of the month, the government’s temporary moratorium on federal student loan payments expires, meaning loans will once again accrue interest and borrowers will be expected to resume monthly payments.