Student-loan repayments are slated to restart on September 1 under the deal negotiated by the Biden administration and lawmakers, which was signed into law earlier this month. The Supreme Court ruling impacts repayments because borrowers will have to restart their payments based on their full balance, without the benefit of up to $20,000 in debt relief. Biden's plan B could take months to enact, which means borrowers should plan on starting repayments, without any debt relief, in September. 1, no matter what the Supreme Court ruled, experts noted.Īnd Mr. The resumption of debt repayments was going to happen on Sept. 'If you can pay your monthly bills, you should.' How does the ruling impact debt repayments? While that doesn't take away the need to make payments, it lessens the credit hit from potentially missing them.
