WASHINGTON (Pakistan Point News / Sputnik - 07th August, 2021) The US Department of education said in a statement on Friday that it will extend its pause on student loan repayment, interest and collections until February of 2022.
"Today, the US Department of Education announced a final extension of the pause on student loan repayment, interest, and collections until January 31, 2022," the statement said.
The Department of Education said the additional time will allow student loan borrowers to plan for the resumption of payments and reduce the risk of delinquency.
The government will continue working to smoothly transition borrowers back into repayment and improve student loan servicing, it added.
Education Secretary Miguel Cardona called the payment pause a "lifeline" that allowed millions of Americans to focus on their families, finances and health during the coronavirus pandemic.
