Loan Repayment Pause Continues

"The temporary pause on student loan repayment has been extended to January 31, 2022 for the final time, the Department of Education announced Friday. Repayments were originally scheduled to resume October 1, 2021," Inside Higher Ed reports.

..."Justin Draeger, president and CEO of the National Association of Student Financial Aid Administrators, said that while the organization welcomes the decision, the department must begin preparing for the restart immediately.

'Transitioning millions of borrowers back into repayment cannot be done by simply flipping a switch and may even require a phased implementation,' Draeger said. 'Delays cannot continue indefinitely, and we urge the Secretary of Education to use his authority under this national emergency to streamline repayment processes to the fullest extent possible, with the most beneficial terms and conditions as possible.'"

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Publication Date: 8/9/2021

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