Yip that is it you heard correctly. Windows 7 is set to end its free support on next yer January.
Windows 7 was released in 2009 and has had a great run as the preferred version on many corporate networks. Main stream support ended back in early 2015, so that means there have been no features added since then.
Microsoft did a big push for users to move to windows 10 when they launched a free offering to upgrade from windows 7, and windows 8.1 to windows 10 back in 2016, which has since then expired.
here is an article direct from neowin.net