[VIDEO] I'm sharing this clip from The Ramsey Show to share this news about the latest student loan extension by the Biden administration.
Via Yahoo News:
The Biden administration will officially enact another extension of the pandemic payment pause related to federally-backed student loans through the end of August.
In a statement, President Biden stated that "my Administration is extending the pause on federal student loan repayments through August 31st, 2022. That additional time will assist borrowers in achieving greater financial security and support the Department of Education’s efforts to continue improving student loan programs. As part of this transition, the Department of Education will offer additional flexibilities and support for all borrowers."
The pause was set to expire after May 1 after being enacted by former President Donald Trump amid the coronavirus pandemic in March 2020 and extended multiple times by President Biden.
“The Department of Education is committed to ensuring that student loan borrowers have a smooth transition back to repayment," Secretary of Education Miguel Cardona said in the press release.
So back to the video this person who called in got a nice bonus and enabled him to pay off the remainder of his student loans. Some friends were giving him a hard time over him just paying them off instead of waiting for this extension. To which I say if you're able to just pay them off and write one big check, I envy him. He's free and I'm still trying to figure it out and so are his friends evidently....
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