The Biden administration has paused payments, interest accumulation and collections on loans held by the Education Department through Sept. 30. The policy took effect last year as the coronavirus pandemic ravaged the U.S. economy.
Senate Majority Leader Chuck Schumer, D-N.Y., Sen. Elizabeth Warren, D-Mass., and Rep. Ayanna Pressley, D-Mass., pushed Tuesday for Biden to extend the moratorium at least through March. They also renewed their calls for the president to forgive up to $50,000 per borrower in federal student debt through executive action.