(CBS News) — The pause on federal student loan payments is set to expire at the end of this month, but despite the looming deadline, millions of Americans do not have guidance as to whether those payments will actually resume for the first time in more than two years.
Federal student loan payments have been on hold for roughly 40 million Americans since the beginning of the coronavirus pandemic. Interest on those loans has also been set at zero percent for the duration of the pause.READ MORE: Hands to Heal GA raising funds for program to help youth cope with stress, anxiety
Most recently, the Biden administration in AprilREAD MORE: through August 31. At the time, the White House said the president would make a decision about canceling student loan debt before the pause expired or it would be extended.United Airlines Puts $10 Million Behind Plan To Shuttle Customers By Electric Aircraft
“It’s an unforced error to be adding more uncertainty to the lives of student loan borrowers at a time where I feel like that word is just defining so much of our experience as workers, as consumers,” said Cody Hounanian of the Student Debt Crisis Center.
Student Loan Servicing Alliance Executive Director Scott Buchanan said the Education Department told student loan servicers to hold off on communications to borrowers regarding the date payments would resume right now.MORE NEWS: Time Is Running Out For Biden To Make Key Decisions On Student Loans