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President Joe Biden extended the pause on student loan repayments by another three months as the U.S. faces a fresh wave of COVID-19 cases from the omicron variant.
The move takes the moratorium through May 1, 2022. Biden had initially extended the pause through September after he took office and then stretched the end to Jan. 31. The president has faced pressure from Democratic lawmakers to provide the extension.
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As employees decide whether to stay with their employer, support tied to student loan debt and education benefits is becoming a clear differentiator.
Even high-income employees are uncertain about where to put their next dollar, highlighting the need for workplace guidance on financial wellness.
From loan repayment and forgiveness to tuition planning, employers can improve workers' education about how to proceed following July 1 changes to plan options.
Americans' financial literacy has slipped to a 10-year low, with new TIAA Institute data showing weaker scores, wider gaps, and rising reliance on AI tools for money decisions.
A financial planning expert shares advice benefit leaders can pass along to their employees.
