Considering there are around 43 million borrowers with student loans in the United States, this change stands to impact approximately 20% of all student borrowers nationwide. Will President Biden Extend Federal Student Loan Payment Pause? They also renewed their call for President Biden to forgive $50,000 in federal student loan debt per eligible borrower through executive action in the new year. It remains to be seen whether student loan payments will stay frozen beyond September, but it's easy to see arguments for and against. It won't, and the consequences of avoiding student loan payments will be as real as ever in as little as two months.

Source: Forbes August 01, 2021 14:03 UTC