WASHINGTON D.C. – The United States Supreme Court has ruled 6 to 3 that the Biden administration student loan forgiveness program is unconstitutional and that borrowers will have to begin paying back their loans in October.
The White House says President Biden is going to announce new actions to protect student borrowers.
The pandemic-related pause on both payments and interest accumulation has been set to end later this summer, though the exact date payments would be due was a little fuzzy.
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The Biden administration had previously said that the pause would end either 60 days after June 30 or 60 days after the Supreme Court ruled on the separate student loan forgiveness program – whichever comes first.
A law passed in early June to address the debt ceiling officially prevented the pandemic-related pause from being extended again. The repayment date has been extended a total of eight times under both the Biden and Trump administrations.
