The pause in student loan payments is due to end in late August-
With President Biden’s debt forgiveness proposal shot down by the Supreme Court, millions of people are facing the reality of resuming those loan payments.
For many of the 43.6 million borrowers with federal student debt, the three-year pause created a financial cushion that allowed them to use the money for other purposes.
But now they must figure out how to cut back to fit those payments into their budgets since they have become accustom to the extra money.
