{"id":13811,"date":"2021-01-21T14:11:38","date_gmt":"2021-01-21T21:11:38","guid":{"rendered":"https:\/\/www.petersons.com\/blog\/?p=13811"},"modified":"2021-01-22T12:45:56","modified_gmt":"2021-01-22T19:45:56","slug":"student-loan-repayment-lapse-extended","status":"publish","type":"post","link":"https:\/\/www.petersons.com\/blog\/student-loan-repayment-lapse-extended\/","title":{"rendered":"Student Loan Repayment Lapse Extended"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">To address the economic hardship millions of Americans with student debt are facing, the U.S. Department of Education, at President Biden\u2019s request, announced that student loan borrowers will be given an additional nine months before they will need to start making monthly payments again.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Passed last March, the CARES Act provides the following relief measures to borrowers with student loans:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Suspend loan payments<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Stop collection on defaulted loans<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Interest rates will be set to 0% for a period of 60 days<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The previous pause was expected to expire on February 1, 2021, and will now be extended until September 30, 2021.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">RELATED: <\/span><a href=\"https:\/\/www.petersons.com\/blog\/how-to-save-money-and-take-years-off-your-student-loan\/\"><span style=\"font-weight: 400;\">How to Save Money and Take Years Off Your Student Loan<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">For more information regarding forbearance for students and borrowers, visit the <\/span><a href=\"https:\/\/studentaid.gov\/announcements-events\/coronavirus\"><span style=\"font-weight: 400;\">Federal Student Aid website<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>To address the economic hardship millions of Americans with student debt are facing, the U.S. Department of Education, at President Biden\u2019s request, announced that student loan borrowers will be given an additional nine months before they will need to start making monthly payments again. Passed last March, the CARES Act provides the following relief measures<\/p>\n","protected":false},"author":36,"featured_media":13812,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[3,20],"tags":[5612,90,5320,1387,1347,445],"class_list":{"0":"post-13811","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-colleges","8":"category-scholarships","9":"tag-cares-act","10":"tag-financial-aid","11":"tag-refinancing-student-loans","12":"tag-student-debt","13":"tag-student-loan-debt","14":"tag-student-loans"},"better_featured_image":{"id":13812,"alt_text":"","caption":"due date calendar and alarm clock with blur business woman hand calculating  monthly expenses during tax 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