By Samantha Fields

July 3, 2023

The White House has announced it’s exploring other ways to implement some kind of student loan forgiveness after Friday’s Supreme Court decision striking down President Joe Biden’s plan to cancel up to $20,000 per borrower.

In the meantime, federal student loan payments will come due again this fall and interest will start accruing again for the first time since the COVID payment pause went into effect three and a half years ago.

Fenaba Addo at the University of North Carolina, Chapel Hill, says that’s a big deal, especially for low-income borrowers.

“It does sound like many of the people who have been working on this issue within the Biden administration have been listening to where the issues have arisen in the repayment process with regards to tripping people up in their ability to pay down those debts,” said Addo.