The Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020 has provided relief to the millions of student loan borrowers across the country by pausing federal student loan payments. Yesterday, I joined with eight of my Pennsylvania colleagues in the U.S. House to send a letter to President Biden requesting his extension of the student loan payment moratorium, which was set to expire on February 1, 2022.
Within hours, President Biden announced an extension of the CARES Act’s pause on required student loan payments through May 1, 2022. This decision will enable students to complete degrees and graduates get into the workforce as the country addresses the pandemic’s continuing economic challenges. It particularly helps veterans with dependents who are managing educational debt.