Washington(NewsNation Now) — The suspension of federal student loan payments has been extended until January 31, 2022.

The federal government was worried that unemployment and recession could result in millions of debtors defaulting, so a freeze was implemented at the start of the 2020 COVID-19 pandemic.

Ministry of Education officials have extended the suspension several times under the Biden and former President Trump administrations.

Most recently it was due to expire on September 30th. The Biden administration said this was the last time it had extended the suspension of repayments.

US Secretary of Education Miguel Cardona said in a press release, “As our economy continues to recover from deep holes, this final extension will allow students and borrowers to plan reopening and a smooth path to repayment. You can get the time you need to secure. ” Announcing the suspension.

The Biden administration has sought plans to revoke student debt, advocating for Senators Chuck Schumer and Elizabeth Warren to cut at least $ 50,000. Mr Biden said he doesn’t think he has the right to cancel more than $ 10,000 per person. Plans to cancel all American debt have not been finalized in the White House or Congress.