Federal Student Loan Payment Pause Extended Until May 1, 2022

Written By: Ryan Rink, CFP®, ChFC®, CLTC®

The Biden administration recently announced that the payment pause and interest waiver for the majority of federal student loan borrowers has been extended until May 1, 2022. The existing freeze was set to end on January 31, 2022 and has been in place since March of 2020. During the payment pause, borrowers have been given the option to hold off on making their monthly payments without interest accruing on their debt. This is important information to share with your adult children or grandchildren who are still making federal student loan payments.