Federal loan repayment pause extended

The Biden Administration extends student loan repayment pause as federal loan forgiveness program faces challenges in court.

Has the constant updates from the Department of Education left you confused about the status of your federal loans? You are not alone! Rest assured that the Financial Aid Office is closely monitoring these updates and will keep you informed on the most recent changes in federal student loan programs.

On Nov. 22, the U.S. Department of Education announced an extension to the pause on student loan repayment, interest, and collections. This will provide the federal government additional time to resolve the court orders that are preventing the department from implementing the debt relief plan.

What does this mean for you?

  • For current students: this means that your interest-bearing loans (unsubsidized and PLUS loans for parents) are not accruing interest.

  • For faculty and/or staff members in repayment: this means you will not resume your repayment until 60 days after the department is permitted to implement the debt relief program or the ligation is resolved. If there is no resolution, your repayment will begin in September of 2023

The Biden-Harris Administration remains committed to the plan to provide debt relief to millions of borrowers across the country. The Financial Aid Office will continue to send updates. For questions on the status of your student loans or your eligibility for the debt relief plan, please contact our office at faofffice@beloit.edu or call 608-363-2663.

November 23, 2022

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