Key takeaways from Biden's extension of student loan relief:
... [+]that it will extend the student loan pause, which was previously set to expire at the end of September, to January 31, 2022. The student loan moratorium has suspended payments, frozen interest, and postponed collections on most federal student loans since March 2020.Biden Administration Says This Is The ‘Final’ Extension Of the Student Loan Pauseof student loan relief to “give students and borrowers the time they need” to “restart” repayment.
If Biden had not extended the student loan moratorium, the servicing transfers would have occurred just as borrowers restart their payments, leading to potential confusion and chaos.
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