Administration of Biden-Harris extends the student loan (August 31 April 6, 2022 Contact: Press Office, (202) 401-1576, Press@ed.gov
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    Today, the Department of Education of the United States (department) announced a extension of the pause on the refund of student loans, and collections until August 31, 2022. While the economy continues to improve and Covid cases continue to decline, President Biden has made clear the continuous need to respond to the pandemic and Its economic consequences, as well as to allow the elimination responsible for the phase responsible for pandemic relief.

    The extension will provide additional time for the borrowers to plan for the resumption of payments, which reduces the risk of delinquency and the default values ​​after D and restart. During the extension, the Department will continue to evaluate the financial impacts of the pandemic on the borrowers of the student loans and will be prepared so that the transition borrowers return to reimbursement. This includes allowing all borrowers with paused loans to receive a "new start" in the refund by eliminating the impact of the crime and the default value and allowing them to re-enter the refund in good condition. The department will also continue to provide loan relief, including borrowers who have been disappointed by their institutions and eligible for relief through the public service loan forgiveness program. FSA will establish new partnerships to ensure that borrowers who work in the public service are automatically credited with progress towards forgiveness, eliminating the paperwork that avoids many borrowers to receive help. FSA will also continue to transfer loans to managers committed to working on new rules of stronger accountability.

    "The Department of Education is committed to ensuring that student loan borrowers have a smooth transition for reimbursement," said U. Education Secretary Miguel Cardona. "This additional extension will allow borrowers to obtain more financial security as the economy continues to improve and, as the nation continues to recover from the Covid-19 pandemic. It remains a priority of the Biden-Harris administration that supports the Students, families and borrowers, especially those disproportionately affected by the pandemic. During pause, we will continue our preparations to give borrowers a new beginning and ensure that all borrowers have access to payment plans that meet their situations and needs Financial ".

    More information on pause and payment brackets for borrowers can be found at Studentaid.gov.

    Today's action is one in a series of steps that the administration of Biden-Harris has taken to support students and borrowers, make an education beyond the most affordable high school, and improve Student loan service. In just over a year, the Department has provided more than $ 17 billion in specific loan relief for more than 700,000 borrowers. The actions within that include:

  • renewing the public service loan forgiveness program in October, which has already allowed the department to identify more than 100,000 eligible borrowers for $ 6.4 billion in loan relief. As part of this effort, the Department implemented a limited PSLF exemption to count all the previous payments made by the student borrowers towards PSLF, regardless of the loan program. Borrowers who work in public service, but have not yet requested PSLF, must do so before October 31, 2022, and can discover more at Studentaid.gov/pslf.
  • providing $ 7.8 billion in relief by more than 400,000 borrowers who have a total and permanent disability.
  • Approve $ 2 billion in defense of the Borrower, affirms approximately 107,000 borrowers, including the extension of total relief to approved claims and approve new types of claims.
  • providing $ 1.26 billion in closed discharges from the school to 107,000 borrowers who attended the now late ITT Technical Institute.
  • helping 30,000 small businesses.
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