Biden's Student Loan Forbearance Extension

from The Credit Pros Podcast · host The Credit Pros

President Biden extended federal student loan forbearance until September 30, 2021, halting payments and interest accrual for 41 million Americans with such loans. The CARES Act originally implemented forbearance due to COVID-19. Federal loans, including subsidized, unsubsidized, and PLUS loans, are covered, but private loans are not. Private loan borrowers have options like negotiating payments, temporary forbearance, or refinancing. Those who can afford it should consider paying federal loans down during this period, as payments go directly to the principal.

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This episode was published on July 25, 2025.

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