Current and former students can breathe just a little bit easier.
The federal government has ordered the pause on payments on federal student loans and interest accrual to be extended into 2021 due to the continuing economic challenges stemming from COVID-19.
Secretary of Education Betsy DeVos announced the extension Friday, which will carry until Jan. 31, 2021.
Payments can still be made during this time, but the interest rate will sit at 0% on these payments and will not be required until February.
Student loan payment requirements have been on pause since March 13.