Student loan payments are supposed to restart on Feb. 1 – unless officials extend the freeze amid the Omicron surge
Republicans, meanwhile, have previously called for the Education Department to restart student loan payments, citing the growing cost to taxpayers of waiving interest and deferring payments. The department has estimated that the pandemic relief for student loans in fiscal year 2020 added nearly $42 billion to the cost of the student loan program; in fiscal year 2021, it cost an additional $53 billion.
. Officials were looking at providing an initial 90-day grace period for missed payments as well as a sweeping plan to expunge the defaults of borrowers who were struggling even before the pandemic. Those plans have been discussed internally within the administration but not yet publicly announced. Department officials urged outside groups to help them get the message out about the looming restart of payments on Feb. 1 during a webinar last week.
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