Student Loan Borrowers Added to Their Debt During the Pandemic, Data Shows
When President Biden introduced a plan to have federal student loan debt broadly forgiven, many borrowers were no doubt hopeful that it would actually come to life. But those dreams were shattered when the Supreme Court ruled against student loan forgiveness. And now that that's off the table, borrowers will need to gear up to start making monthly payments again after a multi-year pause.
Borrowers were allowed to stop making payments during the pandemic. Given the widespread financial crisis it spurred, that was understandable.
But come this fall, millions of borrowers will need to prepare to start paying their student loans once again. And that might prove even more difficult than expected for one big reason.
Source Fool.com
