The U.S. Department of Education also unveiled a plan to reset the roughly 7 million borrowers who are in default, using the pandemic pause to restore their accounts to good standing.

The Biden administration announced Wednesday that it is again extending the moratorium on federal student loan payments, interest and collections, this time until summer's end, Aug. 31.

Student loan borrower activists, advocates, and allies have been dramatically increasing the pressure on Biden to act. Last month, a broad coalition of over 200 civil rights, labor

Midterm Elections May Matter For Borrowers Who Want an Extension and Student Loan Forgiveness The Biden administration may also be taking into account political considerations in light of

But overhauling such programs through new regulations takes a long time. And the final changes are still being hashed out, and would not be effecti until the summer of 2023 in most cases.ve

The loan repayment freeze began in March 2020, at the beginning of the pandemic, and will now last at least two and a half years an unprecedented respite in the

ccording to the latest department data, 500,000 federal student loan borrowers – out of more than 43 million – have been repaying their loans during the pause.