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The Biden administration is once again extending the pause on federally-held student loan payments and interest accrual, this time keeping the benefit in effect through August 31. The announcement follows the White House’s continued extension of the loan moratorium on student loan payments and interest accrual set in place at the outset of the pandemic in March 2020. This latest extension now marks the second time that the Department of Education (ED) has extended the freeze past what was argued to be the “final” such extension of the program. In December, the payment pause was extended through May 1, 2022.
On the heels of the Biden administration announcing the continuation of the student loan moratorium, student loan experts and borrowers on Wednesday dug into the ways in which the administration has gone about making strides in providing targeted student loan cancellation to borrowers. The conversation between a top Federal Student Aid (FSA) official and Third Way, a public policy-focused think tank, looked to underscore how the regulatory changes implemented by the Biden administration has resulted in more student loan cancellation than any other administration.
Your window of opportunity just expanded! Now the April testing window will be open from Thursday, April 14 through Wednesday April 27, 2022. NASFAA also added a two-week testing window into the schedule, beginning on Wednesday, May 11, 2022. If you're already approved to participate, book your session now during the testing window that's most convenient for you. Learn more about the testing process and check the technical requirements. Use the complimentary Exam Preparation Guide to help get ready for your exam. If you haven't applied yet, complete your application online today.
In this Financial Aid Business Solutions (FABS) webinar on Tuesday, May 3 at 2:00 p.m. ET, hear directly from Lassandra Brice, associate director of student financial aid at Florida Agricultural & Mechanical University, on the institution's vision to transform the student aid experience and how increased process automation and transparency with Oracle Student Financial Planning (SFP) helped the university make progress on its goal to swing wide the campus gates for more students. In fact, in its first year of using Oracle SFP, FAMU was able to increase its FAFSA submissions by 26% and its financial aid awards by 47%. The session will also include a product demo from Oracle and audience Q&A. Register now.