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Biden Administration to extend freeze on student loan repayments through August

Element5 Digital

The Biden Administration announced on Tuesday that it will extend the freeze on student loan repayments until Aug. 31.

Following a two-year suspension due to COVID-19, payments on student loans were set to resume again on May 1. Loan payments and interest were initially put on hold in March 2020, with the intent to only remain on pause for six months, but were extended multiple times in response to the pandemic.

Many politicians and nonprofit organizations began pressuring the government to extend payments as the last deadline started to approach. The Student Debt Crisis Center, an organization that had been advocating for an extension on payments since early March, managed to pull together 210 organizations into signing a petition urging President Biden to extend the current pause.

On top of that, democrats issued a letter to Biden calling for the freeze on payments to continue into 2023. Debt Collective spokesperson Braxton Brewington said in an article published by Forbes that resuming payments at this would would likely be the worst political decision made by the Biden Administration.

The decision to extend the deadline for payments was made in response to those heavily requesting a longer freeze.

Jared Gereau is pursuing a Journalism major with an emphasis in Social Media at Utah State University. He is planning on using his experience to pursue a career with USU Athletics sometime after he graduates. In his free time, Jared enjoys watching movies, playing games and creating content for his YouTube channel.