Starting in March 2020, first former President Trump, then President Biden have automatically suspended accrual of Federal student loan interest, as well as deferred student loan repayment for every borrower. According to Federal tax law, all borrowers can claim a deduction of the student loan interest paid during the previous tax year. Yet given the…
On January 21, 2021 by executive order, President Biden continued the suspension of all Federal student loan payments as well as interest until September 30, 2021. With President Biden’s extension, student loan borrowers will be granted a total of 18 months of loan and interest deferment, since payments were suspended since the enactment of the…
