Suspension of Federal Student Loan Payment Extended for Another Month

Those with student loan debt will get an additional month of relief as the COVID-19 pandemic worsens, the US Secretary of Education said Betsy DeVosElizabeth (Betsy) Dee DeVos Federal student loan payment suspension extended by one more month DeVos cancels free college push as anti-bullying scholarship program offers students hope – and choice from school said Friday.

A hiatus on accrued interest and loan payments that is expected to end Dec.31 has been extended to Jan.31, 2021, the U.S. Department of Education said in a statement.

“The coronavirus pandemic has presented challenges for many students and borrowers, and this temporary pause in payments will help those who have been affected,” DeVos said. “The overtime also allows Congress to do its job and determine what action it considers necessary and appropriate. Congress, not the executive branch, is in charge of student loan policy.”

Borrowers have been able to defer payments without penalty since the Trump administration announced the emergency relief order in March. The memorandum, originally scheduled to last 60 days, was originally extended in August with stipulations to only provide relief until the end of the calendar year.

Earlier Friday, President-elect Joe bidenJoe Biden Court of Appeals accepts White House to embezzle military funds for building border wall Federal student loan payment suspension extended by month Pentagon: interim meeting between spy agencies, transition by Biden slated for early next week PLUS The Department of Labor’s “grim” monthly employment report, which showed slowing job growth in November, illustrates the need for strong government assistance as the pandemic rages on, cases of COVID-19 exploding across the country. Biden called on Congress to pass the $ 900 billion coronavirus relief proposal before the lame session ends.