Preparing for Student-Debt Payment Resumption: Borrowers' Strategies.

Millions of student loan borrowers are preparing for the resumption of payments, collections, and interest on federal student loans later this year after a more than three-year freeze. Borrowers, advocates, and servicers are gearing up for a financial and operational headache. The Biden administration has said that the freeze will end 60 days after litigation surrounding its plan to cancel up to $20,000 in debt for a wide swath of borrowers is resolved or 60 days after June 30, 2023, whichever comes first. The lack of clarity surrounding exactly when payments will resume is exacerbating the uncertainty and challenges related to restarting payments.