Education

When can student loan borrowers expect the repayment pause to end?

Student loan borrowers are left in limbo on the exact date when they will have to begin repayments after a three-year pause from the coronavirus pandemic. 

On Tuesday, the Supreme Court heard oral arguments for two cases contesting President Biden’s student loan relief program that could give up to $20,000 of relief to millions of Americans. 

The justices are now able to release a decision at any time about the fate of student debt relief and start the timer for when student loan payments will begin again. 

Back in November when Biden announced he was extending the student loan payment pause into 2023, he essentially tied the resumption of payments to the court releasing a decision on student loan forgiveness. 

The president said the payments are set to begin 60 days after the Supreme Court makes its final ruling on student debt relief. However, if the court takes too long to release its ruling, the payments will begin 60 days after June 30 regardless of the high court’s actions. 

It is unlikely the Supreme Court would release a decision after June 30, as the court typically releases major rulings in May or June. 

Regardless, borrowers could prepare themselves to begin their student loan payments during the summer and certainly by the end of August.