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Federal student loan payment moratorium quietly extended

The Biden administration had set May 1 as the end to a federal moratorium on requiring federal student loan payments more than two years after they were first paused because of the pandemic.

But the Education Department recently emailed unusual guidance to the companies that manage its $1.6 trillion student loan portfolio, throwing that timing into doubt. Don’t reach out to borrowers about that May 1 deadline, the guidance said.

Host Jane Clayson speaks with Roben Farzad, host of Public Radio’s Full Disclosure, about the latest there.

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