Student loan repayment freeze extended
The Biden administration has extended a pause on federal student loan repayment to the end of January 2022.
The payment freeze was supposed to expire on Sept. 30; the US Department of Education stated that this most recent extension is the final one.
Loan payments, interest accruals, and collections of defaulted loans have been on hold since March 2020, and the hold has been extended three times since. The pause has helped federal student loan borrowers save $7 billion a month, according to an estimate by the Federal Reserve Bank of New York.
The extension comes on the heels of the US Centers for Disease Control and Prevention granting one final extension to Oct. 3 of its moratorium on evictions in counties with “substantial” or “high” spread of COVID, which includes McHenry County.
County residents struggling with rent, and landlords as well, can apply for the McHenry County Emergency Utility and Rental Assistance Program. The program gives qualifying tenants or landlords suffering COVID-related financial hardship up to 18 months of assistance with future bills, or up to 12 months of past-due payments, provided they meet the eligibility and income guidelines. Immigration status is not a factor, and is not asked of applicants.
The online application portal can be found at www.McHenryRent.com
. Renters who do not have Internet access can call the McHenry County Housing Authority at 815-338-7752, or Consumer Credit Counseling Services at 815-338-5757 for Spanish speakers.
Federal unemployment programs that expanded unemployment eligibility, increased payments, and extended the duration of benefits, are still set to expire on Sept. 6.