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Upon being sworn in as the 46th President of the United States, President-elect Joe Biden on Wednesday will call on the Department of Education (ED) to extend the federal student loan administrative forbearance period, the pause in interest accrual, and the suspension of collections activity — currently set to expire in less than two weeks — through at least Sept. 30, 2021.
“Borrowers of all ages are often faced with a tough tradeoff between making their student loan payments, investing in their long-term financial future, or paying their bills,” said a document released this morning. “The pandemic has only increased the economic hardship of the millions of Americans who have student debt.”
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