Biden May Extend Student Loan Benefit After Sept 30, But There Is One Serious Dilemma


Biden may extend the student loan exemption after September 30th. but there is one serious dilemma

Here’s what you need to know.

Student loans

Right now, there are two parallel paths for obtaining student loans. The first is student loan cancellation – about the possibility of large-scale student loan cancellation, at least for some student loan borrowers. However, hopes for a large-scale student loan cancellation do not seem to have been dashed. Given the infrastructure development plan and the lack of news from the Biden administration about a possible timing, the cancellation of the student loan appears to be in limbo. The second – and more immediate option – is the option to extend the student loan exemption after September 30, 2021, when the following conditions expire:

  • No federal student loan payments;
  • Federal student loan rates are set at 0%; as well as
  • No collection on federal student loans in the event of default.

In the absence of an extension of this student loan exemption, federal student loan payments will be made effective October 1, 2021.

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