More Student Loan Relief Could Look Like This

More Student Loan Relief Could Look Like This

Here's what you need to know — and what it means for your student loans. President Joe Biden shocked everyone when he extended student loan relief for another 90 days after the Biden administration said there would be no further extensions of temporary student loan forbearance. Now, with the Covid-19 pandemic continuing and pressure from Democrats in Congress to cancel student loans, there could be more student loan relief. If Biden enacts more student loan relief, it could look like these options: If Biden decides to enact more student loan relief, the most likely scenario is that Biden would extend the student loan payment pause for a fourth time. (Here's why Biden extended student loan relief). If this happens, and there's no guarantee that it will, this would mark the sixth extension of temporary student loan forbearance from the Cares Act, which is the $2. 2 trillion stimulus package that Congress passed, and President Donald Trump signed into law, in March 2020. Biden could extend student loan relief for several more months. For example, his latest extension was from February 1 until May 1, so he could consider another 90-day extension. Alternatively, he could extend for a shorter period (such