White House extends student loan pause, adds debt forgiveness

White House announces extension of the payment pause on student loans while laying out plan for debt cancellation. Wednesday the white house announced it is extending the pause in student loan repayment for one last time this year. The US Department of Education announced no payments will be required on federal student loans until January 2023. The Biden Administration also announced it is canceling up to ten thousand dollars of loans for borrowers who make under 125 thousand dollars a year.