WASHINGTON: Administration of US President Joe Biden on Friday announced the final extension of the Coronavirus assistance pause on payment of federal student loans, interests and collections until January 31, 2022.
The extension of the break, which was caused by expiration on September 30, came as a case of the Delta variant of Coronavirus continued to surge throughout the United States.
Safe! You have managed to throw your votelogin to see the results of the Ministry of Education “believe this additional time and the definitive end date will allow the borrower to plan the resumption of payments and reduce the risk of delinquency and default after restarting,” the White House statement.
said.
The department, the statement said, would begin to notify the borrower on the final extension in the coming days and “released resources and information on how to plan repayments as the end of the pause approach.”
“This is a priority department to support students and borrowers during this transition and ensure they have the resources they need to access affordable and high-quality higher education,” said Miguel Cardona’s statement quoted.
In a separate statement, Biden said the pause extension was needed because “the road would remain a long time” for many borrowers even though Friday’s work report showed the July unemployment rate at a 16-month low of 5.4 percent.
The majority leader of the Senate Chuck Schumer and two members of the Democratic parliament praised the extension but said the action was not far enough.
“Our damaged student loan system continues to worsen the gap of racial wealth and hold our entire economy,” he said in a statement with Senator Elizabeth Warren and Ayanna Pressley representative.
“We continue to call administration to use existing executive authorities to cancel the $ 50,000 student debt (per borrower).”