Biden May Extend Student Loan Relief Beyond September 30, But There’s One Major Dilemma

Biden May Extend Student Loan Relief Beyond September 30, But There’s One Major Dilemma

Biden might prolong student loan aid past September 30, however there’s one main dilemma.

Here’s what it’s worthwhile to know.

Student Loans

There are two parallel paths on your student loans occurring proper now. The first — student loan cancellation — is about the potential for wide-scale student loan cancellation occurring for at the very least some student loan debtors. However, the hope of wide-scale student loan cancellation doesn’t appear to be near-term. With a deal with the infrastructure plan and no information from the Biden administration on potential timing, student loan cancellation seems to be in limbo. The second — and extra quick possibility — is the potential for extending student loan aid past September 30, 2021 when the next is ready to run out:

  • No federal student loan funds;
  • Interest charges on federal student loans set to 0%; and
  • No assortment on federal student loans in default.

Absent any extension of this student loan aid, federal student loan funds shall be due beginning October 1, 2021.


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