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U.S. Education Secretary Miguel Cardona confirmed this week that the pause on federal student loan payments will end later this year.
As reported by ABC11 (via CNN Wire), Cardona reiterated on Tuesday that the current timeline to end the pandemic-era pause is still in place. The end date is tied to pending litigation over the Biden Administration’s student loan forgiveness program.
The U.S. Supreme Court is expected to make a ruling around late June or early July. With that, payments are set to resume either 60 days after that decision or 60 days after June 30, whichever comes first.
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When pressed on the issue during a hearing for the House Committee on Education and the Workforce on Tuesday, Cardona said, “We communicated that after the Supreme Court decision is made, loan repayments will start within 60 days of the decision.”
If the loan forgiveness program is approved, low-and middle-income borrowers could be eligible for up to $20,000 in debt relief before the pause ends.
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Cardona adds that they will be prepared to help borrowers through the process, understanding that a lot may have changed during the three-year pause.
“We recognize that our borrowers need information. And they need a long on-ramp because it has been three years,” Cardona said last week. “We do plan on making sure it’s a smooth reentry to repayment, and we’re prepared at FSA to provide the support that students need.”
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Student Loan Payment Pause Set to End This Year was originally published on hiphopnc.com
