For millions of Student Loan Borrowers, it’s been 3 years since they have been required to make payments on their Federal Student Loans.  Also, interest and collections were suspended.  The U.S. Supreme Court decision on the Biden Student Loan cancellation program is expected by the end of June. For students who graduated in 2020 or later, they have not had to pay these loans at all! In preparation for the end of the pause, the administration has promised some flexibilities when they get re-started paying their loans.   There will be more flexible ways to report a borrower’s income and to certify it, and there will be new rules on what periods count towards Public Service Loan Forgiveness.  Also, collection activities by the Federal government will not start for 1 year after the pause ends. This will give borrowers the opportunity to get back into good standing. There’s also a new Income Driven Repayment Plan coming. It is hard to predict exactly how the Supreme Court will rule. but students and parent borrowers need to be prepared to pay their loans back very soon.  The Consumer Financial Protection Bureau is warning that 1 in 5 student loan borrowers may struggle when they will have to start paying on their student loans. Add to that the other debts that student borrowers have, and many are in for a rocky transition. I have seen many with private student loans (who did not get a pause, and don’t have any programs to help) struggling already.  This does not bode well for the start of Federal Student Loan repayment. If you have questions and need help with your Student Loan or other debt, call us, we can help guide you! Daniel J. Winter BankruptcyLawChicago.com djw@DWinterLaw.com 312-427-1613