Payments on student loans were paused during Donald Trump’s first presidency in response to the COVID-19 pandemic when a huge number of businesses closed and triggered massive job losses.
However, the Education Department announced Monday it will resume involuntary repayment of federal student loans that are in default.
They expect this decision to affect over 5.3 million people starting as soon as next month.
During Biden’s presidency, he sought to offer forgiveness of the loans but faced opposition from the courts. In 2023, the U.S. Supreme Court ruled his plan to forgive the loans as unconstitutional due to lack of congressional approval.
