The Biden administration announced Wednesday it is extending the pause on student loan payments through May 1.
“This additional extension of the repayment pause will provide critical relief to borrowers who continue to face financial hardships as a result of the pandemic, and will allow our Administration to assess the impacts of Omicron on student borrowers,” U.S. Secretary of Education Miguel Cardona said in a statement.
President Joe Biden urged borrowers to explore options such as income-based repayment plans and public service loan forgiveness.
The Trump administration initially paused repayments at the start of the coronavirus pandemic, when unemployment rose and many students could not make the payments. The Biden administration planned to end the pause by the end of January.
There are more than 41 million student loan borrowers nationwide, according to federal data.
The student loan debt for Americans is a combined $1.7 trillion, more than the nation’s total auto loan debt. Georgia borrowers account for $66 billion of that.
Staff writer Tia Mitchell contributed to this article.
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