Student loan payments resume as Biden announces additional targeted debt relief amid legal and political hurdles

Federal student loan payments resumed in October 2023 after a three-year pause due to the COVID-19 pandemic.
President Biden's broad student debt cancellation plan was blocked by the Supreme Court, but the administration continues to approve targeted relief, including the latest $9 billion affecting 125,000 borrowers.
Borrowers are facing challenges resuming payments, including issues with loan servicers, and many plan to cut back on spending to accommodate the expense.
The Biden administration is pursuing a new student debt forgiveness plan focused on specific groups in need through federal rulemaking, but faces skepticism and potential legal hurdles.
Republicans continue to oppose Biden's efforts on student debt cancellation as politically-motivated, amid infighting within the party.