WASHINGTON (AP) – A bit of an early Christmas present for student loan borrowers. President Joe Biden announced Tuesday that his administration will extend a pause on federal student loan payments while his plan to give tens of millions of borrowers debt relief faces legal challenges. The moratorium was slated to expire Jan. 1, a date Biden set before being sued by Republican opponents to halt his debt cancellation plan. Now it will extend until 60 days after the lawsuit is resolved.
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