Student loan repayments to resume under debt legislation

As part of the legislation signed by President Joe Biden to raise the nation’s debt ceiling, a firm plan was set for the resumption of federal student loan repayments that have been paused since the onset of the pandemic.

Biden announced earlier this year that payments would resume either on Aug. 30 or 60 days after the Supreme Court rules on Biden’s debt forgiveness plan — whichever comes first.

The new legislation prevents him from reneging on that plan and issuing a last-minute extension to the pause, which his administration has done several times in the past.

Some borrowers could still see some relief if the Supreme Court rules in favor of Biden’s plan to eliminate up t0 $20,000 in federal student loan debt for some individuals. That ruling is expected in July, according to The New York Times.