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Biden's Debt Ceiling Deal Ends the Freeze on Student Loan Repayment. Here's What Borrowers Need to Know

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Biden's Debt Ceiling Deal Ends the Freeze on Student Loan Repayment. Here's What Borrowers Need to Know: https://g.foolcdn.com/editorial/images/734447/white-house-the-president-washington-dc.jpg

The U.S. government is on track to default on its debt payments by June 5, 2023. However, President Joe Biden and GOP Speaker of the House Kevin McCarthy reached an agreement last weekend that would allow the debt ceiling to be raised and prevent a default.

Anyone who is currently paying off a student loan will be impacted by the terms of the agreement. Biden's debt ceiling deal ends the freeze on student loan repayment. Here's what borrowers need to know.

Image source: Getty Images.

Source Fool.com

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