Millions who still owe student loan payments can take a sigh of relief for at least a few more months.

President Joe Biden is extending the pause on student loan payments through May 1 due to the ongoing pandemic.

Borrowers were originally supposed to start paying back their loans beginning on Feb. 1.

“I think people need the opportunity to figure out their finances before they’re automatically enrolled in paying these tremendous lump sums to whatever loan they have,” says Middle Island resident Julie Princivil.

Financial advisor Mitch Goldberg says the extension will be helpful because 89% of fully employed student loan borrowers are not prepared to start making payments.

He says those who owe money should ask lenders about programs that can offer students loan forgiveness sooner rather than later.