President Joe Biden announced that his administration would extend the pandemic-era pause in student loan repayments through June 30 amid legal challenges to his college debt-forgiveness plan.
Payments now set to resume Jan. 1 won't be required again until 60 days after court challenges to Biden's loan forgiveness plan are settled. If the litigation is not resolved by June 30, payments will resume 60 days after that, the Education Department said in a statement.
A federal appeals court last week blocked the administration from carrying out Biden's plan to cancel as much as $20,000 (for most student-loan holders, the limit will be $10,000) in debt for some borrowers.
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