When Will Payments Resume On Student Loans?

So far, it looks like the latest decision to strike down President Joe Biden’s student loan forgiveness plan is going to stick — meaning even if you’ve been approved for debt forgiveness, you’re going to have to start paying back the money you borrowed for school.

Unless the Department of Education is successful in its attempts to overturn two recent rulings, payments on student loans are set to resume in January. That’s when loans will begin accruing interest again and missed payments will go back to leaving dents in your credit history.

At least 26 million borrowers had applied for student debt relief before the application process was put on hold. Of them, 16 million had already been approved.

Do you feel that once the government promises something to the American people, it has to deliver?

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