President Biden has extended the pause on student loan payments and interest — which was set to end on Feb. 1 — for an extra 90 days through May 1, 2022, pointing to continuing financial uncertainty as the Omicron variant spreads throughout the U.S.
The Trump administration first froze the balances on most federal student loans in March 2020, affecting nearly 41 million borrowers. In the nearly two years since then, the restart date has been pushed back by both administrations as the COVID-19 pandemic carries on.
