Biden administration will extend a pause on federal student loan repayments through August 

The Biden administration is planning to extend a pause on federal student loan repayments through August 31 

The delay would be the sixth since the pauses began early in the pandemic 

Millions of federal student loan borrowers have not had to pay their student loans for over two years 

The administration is expected to announce the extension this week 

Borrower balances have effectively been frozen for more than two years 

Those debts have not been accruing interest 

seven million borrowers in default have received a break from paycheck garnishments and other collection efforts. 

Both President Biden and former President Trump have taken actions to extend the pause. 

Biden had previously moved the payment restart date on three different occasions 

One of Mr. Biden’s first acts as president was another extension of the payment freeze 

In August 2021, he pushed payments out again, until early 2022 

Education Secretary Miguel Cardona called a final extension 

A few weeks before bills were due to go out — Mr. Biden imposed another three-month extension 

The Department of Education has said that borrowers can expect to receive a billing statement or other notice at least 21 days before their payment is due