{"id":317568,"date":"2021-08-07T00:27:00","date_gmt":"2021-08-06T21:27:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/biden-administration-to-extend-student-loan-payment-pause-through-january-2022\/"},"modified":"2021-08-07T00:27:00","modified_gmt":"2021-08-06T21:27:00","slug":"biden-administration-to-extend-student-loan-payment-pause-through-january-2022","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/biden-administration-to-extend-student-loan-payment-pause-through-january-2022\/","title":{"rendered":"#: Biden administration to extend student-loan payment pause through January 2022"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a27877d86f2a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a27877d86f2a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/biden-administration-to-extend-student-loan-payment-pause-through-january-2022\/#The_Department_of_Education_described_this_as_a_%E2%80%98final_extension\" >The Department of Education described this as a \u2018final extension\u2019<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/biden-administration-to-extend-student-loan-payment-pause-through-january-2022\/#Financial_and_administrative_headaches_for_borrowers\" >Financial and administrative headaches for borrowers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/biden-administration-to-extend-student-loan-payment-pause-through-january-2022\/#Jillian_Berman\" >Jillian Berman<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#: Biden administration to extend student-loan payment pause through January 2022<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"The_Department_of_Education_described_this_as_a_%E2%80%98final_extension\"><\/span>\n  The Department of Education described this as a \u2018final extension\u2019<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000367196\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000367196\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       The pause on federal student loan payments and collections will continue through January 31, 2022, the Biden administration announced Friday.\u00a0<\/p>\n<p> The move comes after months of mounting pressure from consumer advocates, borrowers and most recently leading members of President Joe Biden\u2019s own party, including Democratic Senators Chuck Schumer and Elizabeth Warren, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.warren.senate.gov\/imo\/media\/doc\/2021.07.13%20Letter%20to%20Biden%20re%20servicer%20responses%20and%20payment%20pause%20extension.pdf\" class=\"icon none\">had asked<\/a> the administration to extend the pause through at least March 31, 2022.\u00a0<\/p>\n<div class=\"paywall\">\n       \u201cThe payment pause has been a lifeline that allowed millions of Americans to focus on their families, health, and finances instead of student loans during the national emergency,\u201d Secretary of Education Miguel Cardona said in a statement. \u201cAs our nation\u2019s economy continues to recover from a deep hole, this final extension will give students and borrowers the time they need to plan for restart and ensure a smooth pathway back to repayment.\u201d<\/p>\n<p>The extension announced Friday marks the fourth time the government has stretched the student-loan payment pause \u2014 including on Biden\u2019s first day in office, \u2014 which was first put in place in March as a coronavirus relief measure. Each time the threat of new payments loomed, advocates warned that borrowers weren\u2019t financially ready and the student loan system wasn\u2019t logistically ready for payments to resume for tens of millions of borrowers.\u00a0<\/p>\n<p>In a press release, the Department of Education described the January deadline as a \u201cfinal extension,\u201d and said that providing a definitive date for when payments would resume would allow borrowers and those involved in operating the student-loan system to prepare for the return of payments.\u00a0<\/p>\n<p>In the past several weeks, the prospect of turning on the entire student-loan system began to look increasingly challenging. One of the three major student-loan servicers \u2014 the organizations that manage the repayment process for borrowers \u2014 announced last month that it would not accept a renewal of its contract. Another, smaller servicer followed suit a few weeks later.\u00a0<\/p>\n<p>That meant that roughly 10 million borrowers would be transitioning to a new servicer around the same time that the organizations were expected to face a crush of calls from borrowers who may have questions or want to adjust their monthly bills as payments resume.\u00a0<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Financial_and_administrative_headaches_for_borrowers\"><\/span>Financial and administrative headaches for borrowers<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>That had the potential to create both administrative and financial headaches for borrowers. The pandemic marks the first time the government has turned off the entire student-loan system, but in the past when borrowers have resumed student-loan payments after a more targeted freeze \u2014 for example, due to natural disaster, \u2014 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/protectborrowers.org\/every-26-seconds\/\" class=\"icon none\">new defaults spiked<\/a>.<\/p>\n<p>That\u2019s a sign that borrowers weren\u2019t aware that payments had resumed or had struggled to get into an affordable repayment program in time \u2014 a scenario advocates have been worried could repeat itself on a much larger scale when payments resume after the pandemic-era pause ends.\u00a0<\/p>\n<p>Advocates have also called on the Biden administration to use the pause period to fix the challenges plaguing the student-loan system, including obstacles borrowers face accessing Public Service Loan Forgiveness and other programs that allow borrowers to have their debt discharged in certain circumstances.\u00a0<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>Already the Biden administration has cancelled more than $1.5 billion in debt for borrowers who were scammed by their schools, but attorneys representing former for-profit college students have called on officials to do more.\u00a0<\/p>\n<p>The administration is also still facing pressure to pursue some kind of mass student-debt cancellation. Despite the pressure and a campaign promise to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/medium.com\/@JoeBiden\/joe-biden-outlines-new-steps-to-ease-economic-burden-on-working-people-e3e121037322\" class=\"icon none\">cancel up to $10,000<\/a> in student debt as a COVID relief measure, Biden <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2021\/05\/20\/opinion\/joe-biden-david-brooks-interview.html\" class=\"icon none\">has voiced skepticism<\/a> of the idea.\u00a0<\/p>\n<p>Still, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2021\/07\/09\/student-loan-relief-extension-498942\" class=\"icon none\">earlier this year<\/a>, his administration requested a memo from the Department of Education and the Department of Justice to determine whether Biden has the legal authority to take that step.\u00a0<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Jillian Berman\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/marketwatch.com\/author\/jillian-berman\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/JillianBerman\",\"text\":\"@JillianBerman\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:jberman@marketwatch.com\",\"text\":\"jberman@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n                <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/marketwatch.com\/author\/jillian-berman\"><\/p>\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Jillian_Berman\"><\/span>Jillian Berman<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><\/a>\n          <\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-759A-5CEC25BAE2E2%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#: Biden administration to extend student-loan payment pause through January 2022&#8221; The Department of Education described this as a \u2018final extension\u2019 The pause on federal student loan payments and collections will continue through January 31, 2022, the Biden administration announced Friday.\u00a0 The move comes after months of mounting pressure from consumer advocates, borrowers and most&#8230;<\/p>\n","protected":false},"author":1,"featured_media":317569,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-317568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/317568","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=317568"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/317568\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/317569"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=317568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=317568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=317568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}