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Biden administration extends student loan forbearance

The program, originally started during the Trump administration, was set to expire on Feb. 1

President Joe Biden delivers remarks on the September jobs report, Friday, October 8, 2021, in the South Court Auditorium in the Eisenhower Executive Office Building at the White House. (Official White House Photo by Adam Schultz)

The Biden administration announced Wednesday that is extending a pause on student loan payments to May 1, extending the moratorium that has been in place for nearly two years. The payments were originally set to resume in February. 

“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,” President Joe Biden said in a statement released by the White House. 

The administrative forbearance program was implemented as part of the CARES Act in March 2020 and was extended once during the presidency of Donald Trump. President Biden has since extended the program twice, and now a third time.

There has been little controversy about the forbearance period, and it has been credited with avoiding thousands of defaults on loans over the course of the pandemic.

Josh Moon is an investigative reporter and featured columnist at the Alabama Political Reporter with years of political reporting experience in Alabama. You can email him at [email protected] or follow him on Twitter.

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