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White House plans to extend pause on student loan repayments

Colleges Students
(AP Photo/Rick Bowmer)

A White House official is reporting that they plan to extend the pause on student loan repayments into August.

An official announcement is expected to be made on Wednesday of this week, according to reporters at The Hill.

The current pause on student loan repayments was originally put in place due to the pandemic in 2020 after Democrats in Congress demanded that the president do something to help those struggling with student loan debt.

Now those in power are concerned with the growing inflation rate and how it affects those struggling to payback their loans.

The pause is scheduled to end on May 1st, however, the next suggested paused is expected to go through Aug. 31st.