Student loan repayments are set to begin again in 2023 hinging on the Supreme Court’s decision on President Biden's student loan forgiveness plan.
When will the Supreme Court decide the fate of Biden's student loan debt forgiveness plan?What's the Biden administration's Plan B if the high court permanently blocks it?
"We are not deliberating or considering any other kind of alternative approach," said Bharat Ramamurti, deputy director of the National Economic Council, ."We're fully committed to the approach that the Education secretary used in this case, and we're confident in our legal authority." Public Service Loan Forgiveness, in what's known as income-driven repayment. Other ways to cut or lower student loan bills:What about the payment pause?
Regardless of what happens in the Supreme Court, payments on federal student loans remain paused. Additionally, interest rates on these loans are set at zero percent and collections agencies have stopped attempting to collect overdue debts. Student loan payments are set to restart:Only loans issued before June 30, 2022, qualify for Biden's debt forgiveness plan.
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