Biden Administration Pauses Student Loan Payments for 3 Million in New Repayment Plan

Jun 29, 2024, 12:00 AM

The Biden administration has announced a pause on student loan payments for approximately three million borrowers enrolled in its new repayment plan. This move comes in response to recent court rulings and aims to comply with a federal court order in Kansas. The Education Department will place these borrowers in forbearance while recalculating their bills. This pause is part of the administration's broader effort to provide debt relief, which has already forgiven $167 billion for nearly five million Americans.