Biden will extend the moratorium on the payment of student loans

The government of Joe Biden intends to extend until August 31 the moratorium on the payment of student loans, which was to expire on May 1.

The extension was put in place early in the coronavirus pandemic and has benefited nearly 40 million people.

Bloomberg released the decision of President Biden’s administration, which should be made official on Wednesday, according to government sources.

Democrats in Congress have asked to extend the moratorium until early 2023 and have claimed that it is also time to cancel student loans.

President Biden has spoken before of eliminating $10,000 of student loans made by the US Department of Education.