The new deadline for student loan relief is now January 31st, 2022. Due to the events of last year and the Cares Act, federal student loans payments were suspended to help those having difficulty making ends meet amidst the pandemic.
The original end date was supposed to be September 30th and now has been extended for an extra 4 months. Here are a few frequently asked questions people have had about the changes made.
When do I need to start paying the loans again?
If your forbearance started in March 2020, it was supposed to last only 6 months, but now with this extension, payments will restart February 2022.
Will there be another extension?
The Education Department clearly stated that this would be the final extension. They recently stated that the reason for the extension was to help transition everyone back into resuming payments.
For more frequently asked questions about the student loan relief ending, see this article.
