U.S. Secretary of Education Betsy DeVos announced the extension of the federal student loan administrative forbearance period, the pause in interest accrual, and the suspension of collections activity through Jan. 31, 2021. It’s official: if you have federally held student loans, you don’t have to make any payments until January. Earlier this month, Education Secretary Betsy DeVos extended that forbearance through January 31, 2021. The deadline for student loan forbearance was extended until the end of January 2021, Education Sec. What no student loan payments until 2021 means for you ... For now, the forbearance extension is to begin Oct. 1 and run through the end of the year, barring any legal challenge. Most student loan lenders understand these times are unprecedented and may offer you a months-long forbearance period. More than 40 million student loan borrowers in the US were not expected to make payments on their federal student loans as part of the CARES Act package passed by Congress earlier this year as the pandemic posed financial insecurity for many Americans. Best Student Loans ... To obtain initial forbearance or a forbearance extension, contact your loan ... You can monitor credit reports weekly for free through April 2021. The deadline for student loan forbearance was extended until the end of January 2021, Education Sec. Here’s what to expect. Close. Education. The extension will help millions of student loan borrowers, many of whom are struggling financially due to the coronavirus Subject: Student loan forbearance extended thru Jan 31, 2021 due to Covid Anonymous If you’re in public service/on track for PSLF: don’t make a single payment but make sure you remain employed during this forbearance period. Federal student loan borrowers … Student loan forbearance from the federal government during COVID-19 has meant borrowers don’t need to make payments until Dec. 31 and, perhaps most importantly, has stopped interest on the loans. The new stimulus deal doesn’t offer any additional extensions on student loan forbearance, but the current expiration date leaves enough time for President-elect Joe Biden’s team to take over in January 2021 and offer additional relief. That’s also the date proposed by more than 75 organizations in a letter to the Education Department earlier this year. You don't have to make another federal student loan payment in 2020. You don’t have to make another federal student loan payment in 2020. Betsy DeVos announced Friday. President Trump issued a new order Aug. 8 to extend forbearance for federal student loans through the end of the year. WASHINGTON— Today, Congresswoman Lauren Underwood (IL-14) applauded the Department of Education’s announcement extending the suspension of loan payments, interest accrual, and involuntary collections on federal student loans through January 31, 2021. Student Loan Forbearance Extended to 01/31/2021. Student Loan Forbearance Extended to 01/31/2021. WASHINGTON – U.S. Secretary of Education Betsy DeVos announced today the extension of the federal student loan administrative forbearance period, the pause in interest accrual, and the suspension of collections activity through January 31, 2021. The reason for relief: COVID-19, of course. On Friday, Secretary of Education Betsy DeVos announced an extension of the student loan federal forbearance period through Jan. 31, 2021. Student Loan Forbearance. Now is the time, though, to decide what to do before your bill arrives in January 2021. 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