once payments resume in October during which missed payments would not be reported to credit agencies. Still, interest will still accrue during that time, and borrowers will have to determine how they will handle another monthly bill.
"There is no end in sight," Lee said."They're going to have to adjust their lives, postpone their lives, to figure out a burden that they should not have had to have had in the first place."The Plan A for Biden's student debt relief was the HEROES Act of 2003, which gives the education secretary the ability to waive or modify student-loan balances in connection with a national emergency like COVID-19.
Still, Lee said that more safeguards need to be in place given the constant legal challenges to student-debt relief:"Obviously we're holding out hope that there's going to be some relief, but I think that we need to start preparing. We need a Plan C through Z." Over the past few weeks, a number of Biden's targeted debt relief policies for borrowers on income-driven repayment plans and those who said they were defrauded by the schools they attended have been