Providing somewhat a relief to a lot of students and their families, the Joe Biden administration on Friday announced an extension of the federal student loan payment moratorium until January 31, just weeks before the pause was set to expire at the end of September.

Reportedly, the Department of Education said in a statement that this extension would be the “final” and that it felt a “definitive end date” would help to reduce the risk of delinquency and defaults once payments restart.

However, since the announcement, questions have arisen that from when do these students again start repaying their debts?

When will students’ loans resume?

Well, if you are someone who is eligible, the payment pause would have started in March 2020. Although it was supposed to last just six months, under the new extension terms, payments will yet again restart in February 2022. 

A very important time frame to remember. 

Will there be any other extensions in the near future? 

Honestly, at this point in time, no further extensions are predicted. The Education Department in their statement clearly emphasized that this would be the last extension. 

“This additional time and a definitive end date will allow borrowers to plan for the resumption of payments and reduce the risk of delinquency and defaults after the restart,” the department said.

Secretary of Education Miguel Cardona also indicated it is a “final extension.”

However, the Biden administration has been under pressure to entirely wipe off the federally held student loans from most Democratic quarters. There is also concern that with the number of coronavirus cases increasing because of the delta variant, businesses will have to shut down or scale back, resulting in a rise in the number of people out of work.

So depending on the circumstances in February next year, the Biden administration might think otherwise, but as of now there are no plans to extend the dates.