White House press secretary Jen Psaki confirmed to reporters the Biden administration will not extend the pause on student loan payments. Borrower balances were frozen by the Trump administration nearly two years ago with the passage of the CARES Act in March 2020. Since then, interest has stopped adding up and collections on defaulted debt have been on hold. The Biden administration has also extended the payment freeze. Its latest extension on the debt expires Feb. 1, 2022. “In the coming weeks, we will release more details about our plans and will engage directly with student loan borrowers to ensure that they have the resources they need and are in the appropriate repayment plan,” said Psaki. “We’re still assessing the impact of the Omicron variant but a smooth transition back into repayment is a high priority for the administration. “The Department of Education is already communicating with borrowers to help …