Student Loan Payments to Resume Despite Court Decision and Budget Cuts
The Biden Administration has announced that student loan payments will resume by the end of June, with payments on track to resume no later than September. The Department of Education is planning on borrowers paying their student loans again, regardless of the Supreme Court's decision on whether Biden's broad student loan forgiveness program would be allowed to proceed. The program would wipe out up to $20,000 of debt per borrower, completely eliminating debts for an estimated 20 million of the 43 million people with federally-held student loans.