Washington DC – On Wednesday, the Biden administration announced its plan to extend the freeze on student loan repayments through May 1, 2022.

The news comes one day after White House Press Secretary Jen Psaki alluded to the possibility that President Joe Biden might extend the pandemic moratorium.

The extension comes one week after the Biden administration initially declined to elongate the student loan repayment freeze past its January 31 end date.

In a statement from the White House, Biden briefly touched on what caused his change of heart, citing the administration, "Know(s) that millions of student loan borrowers are still coping with the impacts of the pandemic and need some more time before resuming payments."

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He continued, "Given these considerations, today my administration is extending the pause on federal student loan repayments for an additional 90 days – through May 1, 2022 – as we manage the ongoing pandemic and further strengthen our economic recovery."

The president noted that the Department of Education would continue to work with borrowers to ensure they have the support they need to eventually return to repaying their student loan debts, pointing to the federal government for assistance.

"As we are taking this action, I’m asking all student loan borrowers to do their part as well: take full advantage of the Department of Education’s resources to help you prepare for payments to resume."

Although the freeze was extended, it seems the Biden administration still fully intends to drop the moratorium and collect payments once again, rather than canceling student debt altogether – a move progressives continue to fight for.