White House mulling another extension on student loan repayment pause

President Joe Biden is considering another pause on repayments for federally-backed student loans, which are set to resume at the end of August.

Bloomberg News reported on Tuesday that the new action from Mr Biden could take the form of either another short-term pause that would get borrowers through the fall or a longer-term action that would suspend all payments through next summer. The news outlet cited anonymous officials with knowledge of the White House’s discussions.

The president has repeatedly issued short-term pauses on student loan payments since taking office in January of last year, but faces pressure from the left flank of his party to cancel all or at least some of the $1.6 tn owed by Americans in the form of federal student loan debt.

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