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Federal student loan borrowers hoping for another extension of the pandemic-era payment pause received bad news in the tentative deal between Republican lawmakers and President Joe Biden to suspend the debt ceiling and avoid default.
According to the legislative text of the agreement, the pause on federal student loan payments, which has been in effect for more than three years now and spanned two presidencies, will “cease to be effective.” Borrowers will be required to resume paying their student loan bills 60 days after June 30. Their due date will likely be in September, experts said.
