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White House to extend moratorium on student loans

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The Biden administration plans to extend a pause on federal student loan payments, according to media reports.

The moratorium is expected to be extended through Aug. 31. Payments were scheduled to resume May 1 after being halted since the early days of the pandemic.

The extension would apply to more than 43 million Americans who collectively owe $1.6 trillion in student debt held by the federal government.

Read more from Fox Business.

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