UNIVERSITY PARK, Pa. — The Penn State Office of Student Aid is reminding all student and parent borrowers who may still owe on a federal student loan that the payment pause that was enacted due to the COVID-19 pandemic will expire on Jan. 31, 2022.
Federal student loan payments, interest and collections were suspended in March 2020 as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act. The U.S. Department of Education announced on Aug. 6 that the moratorium on student loan payments would be extended to the end of January 2022.
Information regarding which loans are impacted and how to resume loan payments can be found on the Federal Student Aid website.
Current and former students and parents who have questions regarding their payments should reach out to the loan servicer to whom their payments are submitted for additional information and should specifically inquire about income-based repayment opportunities and potential eligibility for the Public Service Loan Forgiveness program.