Student loan payments, fate of Biden's forgiveness plan in hands of Supreme Court.
- Student-loan payments will resume in October as the Biden administration will end the pause.
- The Supreme Court is set to rule on lawsuits challenging President Biden's student loan forgiveness program that provides up to $20,000 in relief for federal student loan borrowers.
- Millions of student loan borrowers await the Supreme Court ruling to determine if their debt will be reduced or if they will have to resume payments this fall.
- The Biden administration argues it has the authority to implement the loan forgiveness, while challengers claim it overstepped.
- Regardless of the outcome, student loan payments are set to resume later this year, though income-driven repayment plans may provide relief.