Washington DC – The Biden administration confirmed that the pause on student loan payments will be lifted on February 1.

"A smooth transition back into repayment is a high priority for the administration," White House Press Secretary Jen Psaki said at a news conference, according to Forbes.

Progressives had been hoping Biden would extend the moratorium on student loan payments beyond the January 31 end date.

Student debt in the US has reached astronomical heights at over $1.7 trillion. As the cost of higher education is increasing, so are the costs of housing, healthcare, childcare, and other basic needs.

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The coronavirus pandemic has made it even more difficult for many current and former students struggling to meet the challenges of higher living costs to pay off their debt.

The payment freeze has provided temporary relief, but with the pandemic still raging – and no clear end in sight – many people continue to experience the conditions that made a moratorium necessary to begin with.

Nevertheless, Psaki confirmed many Americans' fears at the press conference: "The Department of Education is already communicating with borrowers to help them to help to prepare for return to repayment on February 1."

"41 million borrowers have benefitted from the extended student loan payment pause, but it expires February 1, so right now we’re just making a range of preparations," she added.

Many people outraged over the resumption of student loan payments have accused Biden of going back on his campaign promises.

In March 2020, Biden tweeted, "Additionally, we should forgive a minimum of $10,000/person of federal student loans, as proposed by Senator Warren and colleagues."

"Young people and other student debt holders bore the brunt of the last crisis," the presidential hopeful continued. "It shouldn't happen again."

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Once in office, Biden canceled student debt for Americans with severe disabilities – a move progressives described as necessary but insufficient.

But the administration has yet to follow through on partial student loan cancelations for all student debt holders, saying such a policy should go through Congress.

Democratic lawmakers have urged the Biden administration to prolong the payment freeze at least until the end of the pandemic.

Last week, Senators Chuck Schumer and Elizabeth Warren, along with House Rep. Ayanna Pressley, sent a letter to Biden pointing out that resuming payments would harm the economy by "strip[ping] more than $85 billion from approximately 18 million American families over the next year."

But their warnings – and the pleas of many student loan holders and activists – seem to have fallen on deaf ears.