The pandemic-related pause on both payments and interest accumulation has been set to end later this summer, though the exact date payments would be due was a little fuzzy. The Biden administration had previously said that the pause would end either 60 days after June 30 or 60 days after the Supreme Court rules on the separate student loan forgiveness program – whichever comes first.
The report also said that about 1 in 5 student loan borrowers have risk factors that suggest they could struggle when scheduled payments resume, like being delinquent on student loan payments before the pandemic or having multiple student loan servicers. When payments restart, many people might be confused about how much they owe, when to pay and how. Millions of borrowers will have a different servicer handling their student loans since the last time they made a payment.
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