President Joe Biden’s administration announced Friday that they would extend the freeze on federal student loan debt until January 31, 2022.
The Department of Education made the announcement, extending the freeze on federal loan payments that were set to expire at the end of September.
All federal student loans will continue to be frozen with a zero percent interest rate.
“As our nation’s economy continues to recover from a deep hole, this final extension will give students and borrowers the time they need to plan for restart and ensure a smooth pathway back to repayment,” Education Secretary Miguel Cardona said in a statement to reporters.
The president moved quickly to extend the moratorium, dodging a likely protest from the socialist Democrat wing of the party.
Biden bungled his handling of the end of the housing eviction moratorium, as the socialist Democrats protested his decision not to issue another edict after the courts ruled it as unconstitutional.
He ultimately reversed his position, acknowledging that even though his new eviction moratorium was likely to get overturned in the courts, it was worth an attempt to help people who were not paying their rent.
“At a minimum, by the time it gets litigated, it will probably give some additional time … to people who are, in fact, behind in the rent and don’t have the money,” he said.