ABC NEWS –President Joe Biden on Wednesday announced an extension of the payment pause on federal student loans through Aug. 31. The moratorium on student loan payments was previously set to expire on May 1. “I know folks were hit hard by this pandemic. And we’ve come a long way in the last year. We’re still recovering from the economic crisis it caused,” Biden said in a video statement. “This continued pause will help Americans breathe a little easier as we recover and rebuild from the pandemic.”