Nearly half of student loan borrowers haven't resumed payments

Student loan borrowers in the U.S. are taking their time resuming repayments after the last pandemic-related pause expired late last year.Repayments were paused for borrowers of federal student loans from mid-March 2020, when the COVID pandemic began, and remained in effect until Sept. 1, 2023, 3½ years after the repayment pause began.

Several iterations of Biden's student loan debt cancelation plans have been rejected or put on hold by federal courts, prompting the administration to explore different ways to approach the issue that may pass legal muster.The Biden administration's new income-driven repayment program, known as the Saving on a Valuable Education Plan, was the latest version to encounter legal headwinds.

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Americans' student loan balance tops $1.6 trillion; nearly half of borrowers haven't resumed paymentsStudent loan balances exceed $1.6 trillion, and nearly half of borrowers haven't resumed repayments on their loans after the final extension of the repayment pause concluded last year.
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