U.S. Secretary of Education Betsy DeVos said that federal student loan repayment forbearance, including suspension of interest accrual and collections activity has been extended through January 31, 2021.
DeVos made the announcement on Friday.
Because of the COVID-19 pandemic, borrowers haven’t had to make payment since March. But the relief was slated to expire on December 31.
“The coronavirus has presented challenges for many students and borrowers, and this temporary pause in payments will help those who have been impacted,” DeVos said.
Some members of Congress are urging President-elect Joe Biden to cancel up to $50,000 of student loan debt per person via executive order.