Extension Of Students’ Loan Moratorium By Biden Up To May 1

federal student loans

Are you a student of the USA or his/her guardian, who is stressing day & night on how to make the debt payment for the student loan that you have taken, amid this pandemic situation & economic crisis? Then, take no more burden! Here's a great announcement for you! And, the announcement is by none other than America's President, Joe Biden. 

Joe Biden & his administration has decided on Wednesday (22nd Dec 2021) that they will extend the time period of the loan repayment for the students up to 1st May 2022, which was set to terminate on 31st January 2022. 

The students & their guardians will get a long time to repay their loaned amount. This step of the Biden student loan payment extension has been taken by the administration keeping in mind the economic crisis of the recent pandemic situation. Millions of the students & their families are still coping with the effects of pandemic like their job loss & other issues. 

And, in such a situation won't it be an additional burden for them to repay the debt they have taken for their children's study? As Joe Biden himself said, the pandemic's financial recovery is going to take a much longer time than that of the job recovery.

Recently, an Omicron variant of the Coronavirus has invaded the US. This has made the situation of the country more worse. And, in such a situation, Biden has thought it necessary to give temporary relief to the students & their families from the repayment of their study loans. 

Most of the people are supporting this initiative of Biden for Biden student loan repayment period extension. But, there are some Democrats, who are forcing for mass compassion of debt. In this regard, Biden questioned the legal scholars if he is possessing this very authority with him, to which their reply varied.  

The officials, as of now, are going through the process of consideration of the matter. They are seeing to what can be done. So, let's wait & watch for any further news on this matter. After all, who doesn't want complete forgiveness of debt, especially in this pandemic crisis!

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