ED announced an extension of the pause on student loan payments, interest and collections. The extension will alleviate any uncertainty for borrowers as the Biden-Harris Administration asks the Supreme Court to review the lower-court orders that are preventing ED from providing debt relief. Payments will resume 60 days after ED is permitted to implement the debt relief program or the litigation is resolved. If the program has not been implemented and the litigation has not been resolved by June 30, 2023 – payments will resume 60 days after that.
Borrowers can use the additional time to ensure their contact information is up to date with their loan servicers and consider enrolling in electronic debit and IDR plans to support a smooth transition to repayment. More information can be found at StudentAid.gov.
