(CBS DETROIT) – For those heading back to college, you won’t need to pay those student loan payments just yet.
The Biden Administration is extending the pause on repayments, interest, and collection until January 31 of next year.READ MORE: U Of M Establishes New Sexual Misconduct Policy For Employees, Students
“The payment pause has been a lifeline that allowed millions of Americans to focus on their families, health, and finances instead of student loans during the national emergency,” said U.S. Secretary of Education Miguel Cardona in a news release. “As our nation’s economy continues to recover from a deep hole, this final extension will give students and borrowers the time they need to plan for a restart and ensure a smooth pathway back to repayment. It is the Department’s priority to support students and borrowers during this transition and ensure they have the resources they need to access affordable, high quality higher education.”READ MORE: AG Nessel Reissues Consumer Alerts Amid Flooding, Power Outages In Michigan
The Department of Education says this will be the final extension.MORE NEWS: 17-Year-Old Charged In Non-Fatal Shooting In Detroit
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