It’s official: Student loan borrowers will resume payments this fall after benefiting from a three-year freeze. Brian Levy joined KNBC to discuss the latest on student loan forgiveness and how you can get your finances ready for repayment.
On 6/30/2023 the Supreme Court ruled in a 6-3 decision that the Biden administration does not have the authority to forgive student loans without an act from Congress. While the Biden administration will attempt another path to forgiving student debt, borrowers should not count on relief. Instead, borrowers who are worried about their student debt should prepare to begin repayments and consider applying for an income-driven repayment plan. For the latest information, we recommend you visit studentaid.gov.