Borrowers will not have to make a payment on federal loans until January 2022.
On Friday, August 6, 2021, the Biden Administration issued what the Department of Education is calling the “final extension” of its federal student loan forbearance.
Borrowers won’t have to resume making payments on their federal loans until January 31, 2022. Until that time, federal loans will remain interest-free, and no penalties for non-payment will be allowed.
This marks the fourth time that the moratorium has been extended.
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Note: This article was provided by our endorsed program provider Cambridge Credit Counseling.