"Student Loan Payment Pause Ends Soon: What Borrowers Need to Know"

The Biden administration will resume interest on federal student loans starting September 1, 2023, and monthly payments will be due in October. The Consumer Financial Protection Bureau warns that about 20% of student loan borrowers may struggle when scheduled payments resume. Education Department officials are looking at ways to ease borrowers back into repayment, including offering a grace period for the first several months in which borrowers wouldn’t be penalized for missing required payments, though interest would continue to add up. Education Secretary Miguel Cardona canceled his planned commencement address at the University of Washington on Saturday amid a strike by hundreds of university researchers. The Supreme Court is set to announce major decisions affecting education in the coming weeks.