WASHINGTON: US President Joe Biden on Friday announced the final extension of Coronavirus assistance on payment of federal student loans, interests and collections until January 31, 2022.
The extension of the break, which will expire on September 30, came when the Delta variant case continued to surge Around the United States.
The Ministry of Education “believes this additional time and the definitive end date will allow borrowers to plan the resumption of payments and reduce the risk of delinquency and default after restarting,” said the White House statement.
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.
The majority leader of the Senate Chuck Schumer and two members of the democracy parliament praised the extension, but they 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).”