Student Loan Payment Pause to End; Student Loan Relief Proposal Decision Coming Soon
Published June 13, 2023
By AACOM Government Relations
Advocacy Federal Policy Financial Aid Higher Education OME Advocate
- Language in the Fiscal Responsibility Act of 2023 stipulates that the student loan payment pause, started during the COVID-19 pandemic in 2020, will end 60 days after June 30, 2023.
- Borrowers are encouraged to confirm their student loan servicer, since many accounts may have been transferred from their originator during the pause, to determine exactly how much is owed and when the repayment will officially restart. Federal Student Aid offers a loan simulator that provides a look at repayment options.
- On June 7, 2023, President Biden vetoed a congressional joint resolution that would have nullified his Administration’s student loan relief proposal. Neither the House nor Senate have the two-thirds vote threshold needed for a veto-override.
- The United States Supreme Court is set to issue its decision on the Biden Administration’s student loan relief proposal by the end of June.