Despite the Biden administration's efforts to forgive student loan balances for federal borrowers, the Supreme Court has decided that that plan won't fly. As a result, millions of borrowers must now gear up to begin repaying their student debt this fall after a multiyear pause.

If you're worried about making those payments, that's understandable. Inflation is still driving living costs upward these days, and you may have racked up other debt over the past couple of years just to stay afloat. Adding student loans to your list of monthly payments could result in a major financial crunch.

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Source Fool.com