The student loan challenge: Here's what to do when payments resume
After a three-year pause put in place during the pandemic, federal student loans will start accruing interest again on Sept. 1, and payments will resume in October. After a three-year pause put in place during the pandemic, federal student loans will start accruing interest again on Sept. 1, and payments will resume in October. Borrowers should not expect another payment pause extension from the White House, since this latest repayment timeline is now a provision in the debt ceiling deal approved by Congress. Americans also are waiting to find out whether the Supreme Court will allow President Joe Biden's student loan forgiveness plan to go ahead, but payments will resume regardless of what the justices decide. Renewed student loan bills could come as a shock to the nearly 44 million borrowers with federal loans. Borrowers who left school in 2020 or later also will need to prepare for their first-ever student loan payments. Student loan borrowers gathered at the Supreme Court today...