WASHINGTON D.C. -- The Biden administration is yet again extending the pause on federal student loan payments, a benefit that began in March 2020 to help people who were struggling financially due to the Covid-19 pandemic, a source familiar with the plan said.
The Department of Education will announce it is extending the freeze another six months with the first payments due two months after June 30, the source said, unless a Supreme Court decision on the president's student loan relief program comes first.
The administration had previously said the most recent extension would be the last, and payments were scheduled to restart in January.
But the administration had also intended for its student loan forgiveness program to begin canceling up to $20,000 in debt for low- and middle-income borrowers before January. The program has yet to be implemented as it faces several legal challenges.
This story is breaking and will be updated.