Biden extends pause on federal student loan payments to end of August

Nearly 37 million borrowers have been affected by the pause, with a delay of $195bn of payments since start of pandemic

Joe Biden announced the pause on federal student loan collections in the US will be extended until 31 August.

The pause on federal student loans first started at the beginning of the pandemic in March 2020 under the Trump administration. This is the seventh time the pause has seen an extension since then.