Biden extends student loan payment pause 9 times during COVID

Federal student loan payments resume for approximately 44 million borrowers in October 2023, ending the longest payment pause in student loan history at nearly 3.5 years. The Biden administration had extended the COVID-era pause 9 times since March 2020, providing an estimated $5 billion per month in relief to borrowers. The pause saves borrowers an estimated $195 billion in payments. The resumption follows the Supreme Court's June 2023 rejection of Biden's broad cancellation plan. Biden simultaneously launches the SAVE plan as a replacement path to relief. Borrowers who fail to resume payments face delinquency and eventual default.