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Federal Student Loan Pause Extended Again
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Amanda (She/Her)
Certified Credit Union Financial Counselor
Posted May 31, 2022
At the beginning of April, President Biden once again extended the pause of federal student loan payments until August 31, 2022. With this extension, the U.S. Department of Education has continued to set interest rates at 0% and paused any collections on defaulted federal student loans.   
Fresh start
To further prepare borrowers for future repayment, the “fresh start” initiative has been included in this extension of the student loan payment pause. This will automatically give borrowers with loans in delinquency status a clean slate updating their loans to good standing. According to, removing delinquent payment history may have a positive credit score impact to approximately eight million borrowers.
Public Service Loan Forgiveness
The Department of Education has continued their work revamping the Public Service Loan Forgiveness program. Individuals working in public service have until October 31, 2022 to file the Limited PSLF Waiver, which will count all payments regardless of repayment program toward the 120 total payments needed for student loan forgiveness.  For borrowers that meet the program requirements, this could mean total student loan forgiveness. If you believe you qualify you can find more information at
Recent graduates
If you recently graduated, congratulations! When it comes to your federal student loans, repayment is not required until six months after graduation. During this timeframe, you will receive information from a student loan service provider that will get your account started. It is important to set up your account with a secure username and password and verify they have your correct personal and loan information. They can also help answer any questions about repayment before that first payment is due. 
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