The White House announced Wednesday it’s extending the student loan moratorium as a highly transmittable COVID-19 variant spreads across the country.  

Millions of Americans who borrowed federal student loans won’t have to pay on the loans through May 1. The moratorium was set to expire on Jan. 31.  

“We know that millions of student loan borrowers are still coping with the impacts of the pandemic and need some more time before resuming payments,” he said in a statement. “Given these considerations, today my Administration is extending the pause on federal student loan repayments for an additional 90 days.”  

RELATED: Biden Administration Not Extending Student Loan Relief 

The quickly moving omicron variant is forcing cities and states to reinstitute mask mandates.  

The about-face from the Biden administration comes over a week after White House Press Secretary Jen Psaki said Biden would not extend repayments.  

“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,” Psaki told reporters at the White House on Dec. 13.  

At the onset of the coronavirus pandemic, federal student loan payments were put on hold as the coronavirus shut down the economy, forcing millions of Americans into unemployment.  

The latest extension would most benefit Black borrowers. Around 86% of Black college students take out federal student loans, compared to nearly 60% for white borrowers, according to CNBC.     

During the last year’s presidential campaign, Biden said he supported canceling up to $10,000 in federal student loans for borrowers but urged Congress to pass legislation for mass student loan forgiveness, according to Forbes.