The moratorium on federal student loan payments will be extended by the Biden administration through Aug. 31, according to an Associated Press report. The freeze, originally scheduled to end on May 1, was enacted to postpone payments during the COVID-19 pandemic. The extension applies to more than 43 million Americans who owe a combined $1.6 trillion in student debt held by the federal government. During the moratorium, interest rates are expected to remain at 0%.
Student loan repayment freeze extended
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