Federal student loan payments could restart this year

The long pause on federal student loan payments is set to end later this year.

The pandemic-relief policy suspending federal student loan payments has now been extended eight times and spanned nearly three years.

Experts say the Supreme Court hearings on Feb. 28 over President Joe Biden’s student loan forgiveness plan will solidify the timeline. In short, depending on that outcome, borrowers could have a bit more than two more months, or up to half a year.

That means millions of former students will have to begin, or resume paying those student debt bills in just months.

Right now, it's possible student loan payments won't re-start until August. When payments start back up, it will be the first time many former students have to pay their debt.

It comes as we wait to see if president Biden's big student debt forgiveness plan survives legal challenges.