"Debt-ceiling deal signals potential harm for working class and future implications"

The pause on student loan payments and interest, which has been in place for over three years, is set to end as early as late August due to the debt ceiling deal between President Joe Biden and House Speaker Kevin McCarthy. The Biden administration agreed not to extend the pause any further, and payments will resume for approximately 25 million Americans who still owe student debt. Borrowers are advised to contact their loan servicers now to avoid long hold times and to consider applying for an income-driven repayment plan. Those who miss payments risk damaging their credit score and losing access to more student aid.