President Biden
President Biden

WASHINGTON, D.C. – In January 2021, on my first day in office, I directed the Department of Education to pause federal student loan repayments through September of that year. At the time, our economy was barely growing. Fewer than 1 percent of Americans were fully vaccinated. Millions of Americans were struggling to stay afloat. Because of that pause in repayments, 41 million Americans were able to breathe a little easier during some of the toughest days of the COVID-19 pandemic.

Today, America is stronger than we were a year ago—and we will be stronger a year from now than we are today. Thanks to our plan to build the economy from the bottom up and the middle out, the economy has created 7.9 million jobs since I took office—the greatest year of job growth on record. We’ve seen the fastest economic growth in nearly 40 years. More than 217 million Americans are now fully vaccinated, and 2 out of 3 eligible adults are boosted. We have the tools we need to move forward safely and return to more normal routines. 

However, as I recognized in recently extending the COVID-19 national emergency, we are still recovering from the pandemic and the unprecedented economic disruption it caused. If loan payments were to resume on schedule in May, analysis of recent data from the Federal Reserve suggests that millions of student loan borrowers would face significant economic hardship, and delinquencies and defaults could threaten Americans’ financial stability.

Accordingly, to enable Americans to continue to get back on their feet after two of the hardest years this nation has ever faced, my Administration is extending the pause on federal student loan repayments through August 31st, 2022. That additional time will assist borrowers in achieving greater financial security and support the Department of Education’s efforts to continue improving student loan programs. As part of this transition, the Department of Education will offer additional flexibilities and support for all borrowers.

I’m asking all student loan borrowers to work with the Department of Education to prepare for a return to repayment, look into Public Service Loan Forgiveness, and explore other options to lower their payments. Vice President Harris and I are focused on supporting borrowers in need, and believe that this pause will provide a continued lifeline as we recover and rebuild from the pandemic.

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47 Comments

  1. Time for this to end. They took the loans. There are more jobs available than people who are looking for work. No more excuses.

      1. I suppose this is another thing you just don’t know: the program began under Trump.

    1. A propagandist political commentator on a political propaganda network doesn’t like the President who is from the other political party? SHOCKER!

          1. You’re a political commentator on here
            You bash republicans
            Then you bash your president that you voted for
            So yeah

  2. “Dumb dogs best friend says: April 8, 2022 at 6:21 am You’re a political commentator on here You bash republicans Then you bash your president that you voted for So yeah” Well, the first name of your handle sure describes you well. Just to set you straight, “Dumb”, The Baynet is not a network, there aren’t any Republicans on here–only anti-America Trumpers who deserve to be bashed, and my comments about the college loans was hardly “bashing”. Unlike the mindless Trumpers, I do not think Biden is a god who can do no wrong. Yeah, I voted for him. He wasn’t my first choice or even my third, but he was a far sight better choice than Trump.

      1. You should really try reading what I post, because your replies make no sense. Of course making sense isn’t your goal is it troll?

      1. Me and over 77 million other voters. This reply of yours also has nothing to do with my post.

        1. You and the other 77 million idiots are at fault for everything going down the tubes with this country

    1. I’d be willing to bet you’re one of the mindless sheep that ride around by yourself with a mask on!

    2. There’s plenty of republicans on here, and this is a news media site, you’re dumb asf

      1. So I’ll just repeat what I posted. If you are Trumper, you are not a Republican. The Baynet is not a network. Odd that you call me dumb when you can’t put up a coherent post.

    3. Speaking of bashing
      You STILL haven’t answered my question yet princess like always

        1. It’s a very simple question, at least to 99.9 percent of people, you represent the .1 percent

  3. “Dumb dogs best friend says: April 10, 2022 at 4:53 pm All bark, no bite, come on chihuahua, show me some bite!” Just to remind you, since you are unable to keep up, the article is about student loan repayment. Your posts consisted of a plethora of personal attacks that have nothing whatsoever to do with the article or my actual comments and a link to a silly Fox News opinion piece that–no surprise—had nothing to do with student loan repayment. That’s it. You’ve put up roughly half of the 31 posts on this thread. Not one of them had anything to do with the article. As I have said repeatedly, your posts have no value.

      1. Just what I have been doing: pointing out how worthless and infantile your posts are. If you keep choosing to put your own lack of knowledge and maturity on display, I’m happy to keep shinning a flashlight on it.

          1. Ah another infantile post. I noticed you keep making multiple infantile reply type posts. Is your mind so far gone that you can’t remember what you replied 30 minutes before submitting another reply?

          1. You replied to your own post, again. You made another infantile and childish post, again.

          1. You really aren’t very bright are you? Well, that’s a silly question as each of your posts provide ample evidence of your intellectual deficiencies.

          1. Why don’t you just stop posting until you have something relevant and intelligent to say about the article or the comments about the article? Oh that’s right, that not the point of being a troll.

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