President Biden keeps at trying to help student loan borrowers….
Tens of millions of Americans are gearing up to make student loan payments in the coming weeks for the first time in years as a pandemic-era reprieve finally comes to an end.
Payments have already begun pouring into the Education Department as some borrowers begin to repay. But the major test for the federal student loan system — and the Biden administration — lies ahead when official due dates arrive in October.
Individual borrowers face a series of decisions about how to repay: whether they should enroll in the Biden administration’s income-driven repayment program or avail themselves of a new, temporary forbearance option that postpones payments but drives up interest costs.
At the same time, a prolonged government shutdown could complicate the Education Department’s ability to manage the student loan program just as payments are resuming. And millions of Americans are still waiting to see how Biden’s do-over on mass student debt cancellation shakes out.
Here’s our [Politico] quick guide to some of the moving pieces…..