Biden extends pause on student loan repayments

If you have federal student loans, you won't have to resume payments on January 1st. The Biden Administration is extending the pause on federal student loan payments.

The extension comes as the Biden administration’s student loan forgiveness program is tied up in the courts. Officials had told borrowers the forgiveness program, which is worth up to $20,000 in debt relief per borrower, would be implemented before loan payments were set to resume in January.

The payment pause will last until 60 days after the litigation is resolved. If the program has not been implemented and the litigation has not been resolved by June 30, payments will resume 60 days after that, according to the Department of Education.

The U.S. Supreme Court says it wants to hear from the plaintiffs by today.

The Justice Department is asking the high court to allow Biden's student loan relief plan to take effect.