Student Loan Interest Is Accruing Again for the First Time in Over 3 Years
When the COVID-19 pandemic struck, it dealt a staggering blow to the U.S. economy as all sorts of work slowed or halted. In response, lawmakers rushed to provide the public with relief in an array of different forms, including stimulus checks, boosted unemployment benefits, and provisions for student loan borrowers.
For more than three years, student loan repayments were paused. And during that time, those borrowers didn't have to worry about interest accruing on their educational debt.
But now that the Supreme Court has blocked President Joe Biden's broad student loan forgiveness plan, student loan payments will start coming due in October for millions of borrowers. On top of that, interest on student loans began to accrue again on Sept. 1.
Source Fool.com
