Dec 21, 2021 - Economy

Biden administration considering extension of student loan payment pause

Photo of Joe Biden's face

President Biden speaks in the State Dining Room of the White House on Dec. 21. Photo: Drew Angerer via Getty Images

The Biden administration is considering an extension of its moratorium on student loan payments and will announce its decision later this week, an Education Department spokesperson tells Axios.

Why it matters: Federal student loan payments are currently on pause until Jan. 31. An additional extension would bring relief to millions of borrowers.

Go deeper