U.S. Student Debt Relief Programming Update1 min read
U.S. Student Debt Relief Programming Update
On November 22nd 2022, the U.S. Department of Education formally announced the extension of pandemic-era hiatus on repayment of federal student loans. Payments were originally paused after the first waves of the coronavirus pandemic in March of 2020, when the health crisis had dire consequences on student loan borrowers and the overall U.S. economy. It has been almost three years since federal student loan borrowers have had to make payment on their loan balance.
Fortunately, the announcement last Tuesday by the Biden Administration confirmed that student loan repayments have now extended until the U.S. Department of Education is permitted to implement the debt relief program or the litigation is resolved, in which payments will restart 60 days later. If the issue has not been resolved by June 30, 2023, then payments will resume 60 days after this date.
For more information visit – https://www.lnesc.org/