The Biden administration previously extended this student loan relief from the Cares Act twice for one year. As a result, starting February 1, 2022, temporary student loan forbearance will end and regular student loan payments will resume. That said, if you have an economic hardship, you can still get forbearance or deferment for your federal student loans. It’s important, however, to understand the difference between student loan forbearance and student loan deferment.
If you plan to pursue public service loan forgiveness, an income-driven repayment plan or forbearance or deferment, then you may not want to refinance federal student loans. Why? When you refinance student loans, you get a new private student loan to pay off your old student loans. So, if this applies to you, then you could refinance private loans only.
