Biden Pledges to Extend Student Loan Relief

By Hugh T. Ferguson, NASFAA Staff Reporter

President-elect Joe Biden’s transition team announced that the incoming administration would continue the federal student loan administrative forbearance period, the pause in interest accrual, and the suspension of collections activity. 

Per a January 8 briefing from the transition team, Biden also supports “Congress immediately canceling $10,000 of federal student loan debt per person, as a response to the COVID crisis.” 

Prior to her resignation, Education Secretary Betsy DeVos extended the loan moratorium, which began at the outset of the pandemic, through Jan. 31, 2021 and asked for Congress to address the policy.

 

Publication Date: 1/11/2021


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