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Education Secretary Miguel Cardona confirmed this week that the Department of Education is preparing to restart student loan payments later this year. “The emergency period is over, and we’re preparing our borrowers to restart,” Cardona said at a Senate Appropriations hearing on Thursday, as the national COVID-19 public health emergency was set to expire at…
Student loan servicers are in a tough bind, dealing with reduced staff as they prepare for the unprecedented situation of 44 million borrowers returning to payments later this summer. Student loan payments are expected to restart at the end of August at the latest, including for many borrowers who graduated during the pandemic and have…
President Biden faces a ticking timer on the resumption of student loan payments by the end of the summer — but will he allow it to go off? The payments, paused amid the coronavirus pandemic, are set to begin either 60 days after the Supreme Court makes a ruling on Biden’s student debt forgiveness program…