Right when student loan payments restart.
— Geoff Sokol (@SokolCapital) June 27, 2023
It’s official: Student loan payments will restart in October, Education Department says
Over the three-year-long pause on student loan payments, the U.S. Department of Education has repeatedly told borrowers their bills were set to resume, only to take it back and provide them more time.
This time, however, the agency really means it.
The Education Department posted on its website that “payments will be due starting in October,” and a recent law passed by Congress will make changing that plan difficult.
It will likely be a big adjustment for borrowers when the pandemic-era policy expires. Around 40 million Americans have debt from their education. The typical monthly bill is roughly $350.
“For many borrowers, the payment pause has been life altering — saving many from financial ruin and allowing others to finally get ahead financially,” said Persis Yu, deputy executive director at the Student Borrower Protection Center.
Top Biden economic advisor Lael Brainard says "real incomes are up."
FACT: Real weekly wages have fallen *every month* since Biden and Democrats passed their $1.9 trillion "stimulus." pic.twitter.com/6ksPjFJRlg
— RNC Research (@RNCResearch) June 27, 2023
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