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Federal Student Loan Payments Set to Resume in October Regardless of SCOTUS Ruling on Loan Forgiveness Plan

Federal student loan repayments are scheduled to restart in October, irrespective of the Supreme Court’s ruling on President Biden’s contested student loan forgiveness plan. The suspension of loan payments that began during the COVID-19 pandemic will soon come to an end, regardless of the court’s decision.

Resumption of Student Loan Repayments

Credit: DepositPhotos

After more than three years of paused payments and reduced interest rates on federal student loans, the interest will start accruing again on September 1, 2023, and payments will become due in October. The Department of Education plans to notify the more than 40 million student loan borrowers well in advance of the payment restart.

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Impact on Borrowers

Resuming loan payments is expected to create financial challenges for many borrowers. The economic recovery from the pandemic has been accompanied by high inflation, rising household debt, and stagnant wages. Many Americans are already struggling to meet their financial obligations, making student loan repayments an additional burden.

Consequences of Non-payment

Failure to make student loan payments can lead to delinquency and eventual default, which can have severe penalties, including damage to credit scores and restrictions on receiving additional aid and government benefits.

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Alternative Repayment Options

Experts recommend considering income-based repayment plans, which take borrowers’ expenses into account when determining payment amounts. The Federal Student Aid website can help borrowers determine their eligibility for such plans. Government or nonprofit employees may also qualify for the Public Service Loan Forgiveness Plan, which forgives student debt after ten years of service.

Deferment or forbearance options are available for borrowers facing financial difficulties, but it’s important to note that loans still accrue interest during these periods.


Regardless of the Supreme Court’s ruling on President Biden’s student loan forgiveness plan, federal student loan payments are set to resume in October. This development poses challenges for borrowers who are already facing financial strain due to inflation and other economic factors. Exploring alternative repayment plans and seeking assistance can help borrowers manage their student loan obligations during these challenging times.

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