Biden extends student loan payment pause through December 31, 2022

President Biden extends the pause on federal student loan payments through December 31, 2022, making the seventh extension of the payment moratorium that began in March 2020 under the Trump administration. The extension comes as the administration prepares to implement student loan forgiveness and as borrowers continue to face economic challenges from the COVID-19 pandemic. The payment pause has affected approximately 43 million borrowers with $1.6 trillion in outstanding federal student loans.