The Biden administration is expected to announce another extension to the student loan pause this week, multiple sources told The Hill. The announcement could come as soon as tomorrow and would extend the moratorium on federal student loan payments and interest accrual past the current May 1 expiration date. President Biden is facing pressure by a growing number of Democrats to continue the freeze for several more months, with nearly 100 lawmakers across both chambers citing inflation as justification. The measure was first put in place during the pandemic as a way to offer relief to those struggling to make loan payments. While it’s unclear when the new extension would end, Biden has faced calls to allow borrowers to pause payments until after the midterms. The president last extended the suspension in December. Loan payments were first put on hold in March 2020 under former President Trump and have since been extended five times.
