Biden extends pause on student loan payments through May 1
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.
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Dec 23, 2021, 2:03 AM
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Updated 1,119 days ago
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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.
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