US Education Department confirms resumption of student loan payments this year.

Education Secretary Miguel Cardona confirmed that student loan payments will resume later this year, no later than 60 days after June 30. The timing depends on the Supreme Court's ruling on President Biden's student loan forgiveness plan, which could provide borrowers with up to $20,000 in debt relief. Cardona expressed confidence in the administration's debt relief plan, but Biden previously expressed uncertainty about the conservative majority Supreme Court's ruling. The Department of Education recognizes that borrowers need a long on-ramp to resuming payments and plans to ensure a smooth reentry to repayment.