US student loan payments set to resume after three-year pause
The US Supreme Court is set to rule on the constitutionality of President Biden's plan to forgive up to $20,000 per borrower. The payment pause on federal student loans began under Donald Trump in March 2020 at the beginning of the Covid-19 pandemic and continued under Joe Biden. The pause on payments and interest is still in effect and set to expire 60 days after the supreme court rules on two cases. Even if the deal falls through, payments will resume 60 days after the Supreme Court decision. No matter what the justices decide, more than 40 million borrowers will have to start paying back their loans by the end of the summer at the latest.