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Student Loans

Joe Biden’s Student-Loan Reprieve Eases $1.6 Trillion Worry, for Now

  • President extends pause on student loan repayments until May
  • School debt still seen as long-term problem for the government
Randolph Hall at the College of Charleston in Charleston, South Carolina.
Photographer: Micah Green/Bloomberg

Americans who were dreading the burden of resuming student-loan repayments in February got a reprieve from President Joe Biden, but they aren’t feeling entirely at ease yet.

“That’s a huge relief for now. But it still interrupts my ability to plan long term,” said Chloe Cross, 29, who works in the film and television industry in Los Angeles and owes $32,000 in federal student loans. “I keep thinking he has the plan to cancel more long-term debt but it’s so messy. I’m exhausted and it’s like our lives are pawns. We’re here for them to play with and sacrifice.”