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Biden admin expands pause on student loan interest and collections

Biden admin expands pause on student loan interest and collections

The Biden administration has expanded an existing pause on student loan interest and collections to include more than 1.1M borrowers who are in default, the US Department of Education announced Tuesday. The borrowers were ineligible for the current payment pause and interest waiver due to their loans being held by private entities. The relief will be made retroactive to March 13, 2020.

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