U.S. Secretary of Education Miguel Cardona said the student loan repayment moratorium in effect since March 2020 could be extended beyond its current end date of August 31.
At a U.S. Senate Appropriations Subcommittee audience On June 7, Cardona said the administration “has a day” when the moratorium should be lifted, likely referring to the August 31 expiration date, and that it “could be extended or it could be that start there”. Either way, he said, the Department of Education will give borrowers “adequate notice” before they are forced to start repaying their federal student loans again.
Between Presidents Donald Trump and Joe Biden, the moratorium has been extended six times, according to Forbes.
Although one of the Biden campaign promises was to forgive a minimum of $10,000 in student debt per person, experts doubt that would actually happen. Rep. Virginia Foxx, R-NC, the top Republican on the House Education and Labor Committee, sent a letter to Cardona saying she didn’t believe the Department of Education was ready for large-scale student loan forgiveness.
