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The Biden administration announced on Nov. 22 that it will extend its moratorium on student loan payments through June 30, 2023, as the program to cancel hundreds of billions of dollars in loans faces several court battles.
Federal student loan bills were slated to resume on Jan. 1, 2023. Loan payments were placed on hold in early 2020 under the Trump administration, and the moratorium has been extended multiple times.
In a news release issued on Nov. 22, the Department of Education announced it would extend the repayment pause and criticized Republican officials. The moratorium will be extended until 60 days after the Biden administration is allowed to implement the plan and if the lawsuits are resolved.
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