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Good News for Borrowers: Student Loan Repayment Resumes Next Week, But Biden's 12-Month "On-Ramp" Offers Some Relief

TheMotleyFool

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Good News for Borrowers: Student Loan Repayment Resumes Next Week, But Biden's 12-Month "On-Ramp" Offers Some Relief: https://g.foolcdn.com/editorial/images/749139/college-students-2023.jpg

Student loan payments are resuming for the first time since early 2020 for the millions of federal student loan borrowers in the United States.

However, the Biden Administration has built in a safety net to the end of the payment pause that could help many people who have difficulty fitting student loan payments into their budgets. Here are the key details of the so-called "on-ramp" to repayment and why there might be a better option if you have trouble affording your student loan payments.

Image source: Getty Images.

Source Fool.com

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