Washington, D.C. — U.S. Secretary of Education Betsy DeVos recently announced that federal student loan forbearance is extended to January 31.
The forbearance stops interest accruing on federal student loans in good standing.
The student loan forbearance began in March when President Donald Trump declared a national emergency in response to the Chinese coronavirus. It was extended to December 31 in August.
The White House is likely transitioning to a Joe Biden administration at the end of January. Biden has already promised to forgive large amounts of federal student loan debt when he takes office.
However, DeVos’ statement regarding the one-month forbearance extension states that “The Congress, not the Executive Branch, is in charge of student loan policy.” She called on Congress to “do its job” to determine what is “appropriate.”
“The coronavirus pandemic has presented challenges for many students and borrowers, and this temporary pause in payments will help those who have been impacted,” said Secretary DeVos. “The added time also allows Congress to do its job and determine what measures it believes are necessary and appropriate. The Congress, not the Executive Branch, is in charge of the student loan policy.”
U.S. Department of Education Press Release
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