Biden extends pause on student loan repayments through May 1
President Joe Biden has extended a pause on student loan repayments an additional 90 days through May 1, 2022, the White House announced Wednesday.
Those with student loans had been scheduled to begin repayments on February 1. Although unemployment is relatively low, the president said, many are still struggling with the economic fallout from the pandemic.
"Now, while our jobs recovery is one of the strongest ever — with nearly 6 million jobs added this year, the fewest Americans filing for unemployment in more than 50 years, and overall unemployment at 4.2 percent — we know that millions of student loan borrowers are still coping with the impacts of the pandemic and need some more time before resuming payments," Mr. Biden said in his statement announcing the extension.
The pause on payments has affected 41 million Americans, according to the White House.
The pause began under former President Donald Trump, and continued under Mr. Biden. Some progressives have been urging the president to cancel student loans entirely, not just pause them.
Representative Alexandria Ocasio-Cortez, a New York Democrat, has asked the president to use his executive authority to cancel student debt, saying "time is running out" after Democratic Senator Joe Manchin said he can't support the president's Build Back Better Act.
It is not yet clear whether this will be the final extension on student loan repayments.