President Joe Biden announced in 2022 that he would use executive action to forgive many government student loans. But the plan faces two challenges before the Supreme Court, and a pause in student debt payments imposed during the pandemic is set to expire. Biden extended that moratorium, which does not apply to private loans, when he announced the debt relief plan in August 2022. According to a report by Washingtonpost.com, the court case against President Biden's student loan forgiveness plan has added uncertainty to the future of the relief program. Meanwhile, millions of Americans are bracing themselves for the potential resumption of debt payments, placing a financial burden on struggling borrowers.

Source: Washington Post June 28, 2023 17:24 UTC