Education
Education

Biden extends pause on federal student loan payments

President Joe Biden signs executive orders during his first minutes in the Oval Office of the White House in Washington, on Inauguration Day, Wednesday, Jan. 20, 2021. In 17 executive orders, memorandums and proclamations signed hours after his inauguration, Biden moved swiftly on Wednesday to dismantle Trump administration policies his aides said have caused the “greatest damage” to the nation. (Doug Mills/The New York Times)

Credit: Doug Mills/The New York Times

Credit: Doug Mills/The New York Times

President Joe Biden signs executive orders during his first minutes in the Oval Office of the White House in Washington, on Inauguration Day, Wednesday, Jan. 20, 2021. In 17 executive orders, memorandums and proclamations signed hours after his inauguration, Biden moved swiftly on Wednesday to dismantle Trump administration policies his aides said have caused the “greatest damage” to the nation. (Doug Mills/The New York Times)
By
Jan 21, 2021

President Joe Biden on Wednesday ordered the U.S. Department of Education to continue a freeze on collecting federal student loan payments and keeping the interest rate at 0%.

The Trump administration ordered the changes shortly after the start of the coronavirus pandemic last March. The freeze was scheduled to expire at the end of January.

“Too many Americans are struggling to pay for basic necessities and to provide for their families,” the department said in a statement. “They should not be forced to choose between paying their student loans and putting food on the table.”

The department’s statement did not say how long the freeze will continue.

More than half of the students who graduated from Georgia colleges and universities in 2019 owe student loans, according to some research. The average debt is more than $28,000, according to The Institute for College Access & Success. Georgia ranked 27th and 29th, respectively, in both categories.

Biden, who took office Wednesday afternoon, issued more than a dozen executive orders, many focused on the pandemic.

About the Author

Eric Stirgus is a reporter who covers higher education issues, the Georgia Board of Regents and the Technical College System of Georgia.

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