US president Joe Biden plans to extend the pause on federal student loan payments through August, according to reports in Politico and the Wall Street Journal citing unnamed sources. An official announcement could come as soon as tomorrow (April 6).Roughly 37,000 borrowers have not had to make payments on their student loans for more than two years, under a government policy that was first instituted in March 2020 due to the coronavirus pandemic. While the US economy has picked up since then, Biden is facing pressure from Democrats to extend the freeze, or even cancel student loans altogether. The president already has extended the loan freeze three separate times, most recently in December.
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