On Dec. 22, the federal student loan payment pause was extended through May 1, 2022. The loan repayment/collection pause and the 0% interest rate were previously scheduled to expire on Jan. 31, 2022. Read more here. Keep reading for additional announcements concerning federal student loans.

On Oct. 6, 2021, the U.S. Department of Education announced a temporary period during which borrowers may receive credit for payments that previously did not qualify for Public Service Loan Forgiveness. Learn more about this here.

Federal student loan servicers Navient, PHEAA (FedLoan Servicing), and Granite State have announced plans to stop servicing federal student loans. Borrowers currently assigned to these servicers can learn more about the USDE’s transition plans here.

— Ryan Zantingh, Student Financial Planning