Biden Administration to Extend Student-Loan Payment Pause Through End of August

The Biden administration is planning to extend until the end of August a pause on federal student-loan payments, according to people familiar with the matter.

The extension could be announced as soon as Wednesday, the people said. Senior Biden administration officials have been grappling for months with whether to extend the moratorium and for how long. Susan Rice, director of the Domestic Policy Council, was among those who advocated for the latest extension, one of the people said.

Payments and interest accrual have been paused for borrowers with federal student loans since...