The Biden Administration extended the student loan pause through August 31 Wednesday.
The federal student loan payments freeze was scheduled to expire on May 1.
Several Democrats have urged President Biden to continue the freeze to last for several more months, with close to 100 lawmakers across both chambers citing inflation as the reason for it.
The pause was started in March 2020 during Trump’s time in office during the pandemic to help those struggling to make loan payments.
It has been extended five times.
Advocates and other Democrats, including Senate Majority Leader Charles Schumer (D-N.Y.) and Sen. Elizabeth Warren (D-Mass.), would like to see $50,000 per person or to cancel debt entirely.
Lady year, Biden asked for a memo from the Department of Education to see if he had the authority to forgive student debt through executive action. Since the administration has not publicly announced if the memo is finished.
