#Joe Biden extends student loan payments pause 90 days

President Biden on Wednesday announced a 90-day extension of a pause on the collection of federally backed student loan payments as the Omicron variant of COVID-19 creates new economic uncertainty.

The respite was scheduled to end Jan. 31, but it will be extended through May 1 after Biden faced pressure from young adults and left-wing Democrats.

Student loan payments were first paused by President Donald Trump in March 2020 at the start of the coronavirus pandemic.

“This is an issue Vice President Harris has been closely focused on, and one we both care deeply about,” Biden said in a statement.

The president added that he was extending the pause “as we manage the ongoing pandemic and further strengthen our economic recovery.”

White House press secretary Jen Psaki said at her daily press briefing Wednesday that “we know some student loan borrowers are still coping with the pandemic and need some time before resuming payment, so this pause gives the administration time to manage the ongoing pandemic and further strengthen our economic recovery.”

This is a developing story.