For those of you outside of The US, this is of huge importance. Beginning Sept. 1, The US Supreme Court says that students must begin to repay the loans that were put on hiatus during Covid. This means as much as $300 to $400 per month to repay these loans. There are a couple of million students affected. No more retail buying, or, other extraneous expenditures; many say they won’t be able to afford groceries. Federal loans are held against the person who took them out and not only will it reflect on credit scores, it is unclear if these payments could also be deducted from future wages, involuntarily, similar in authority as IRS. This is the unanswered question, as yet, and very possible that USSC ruling might answer it in the affirmative. Nobody is coming forward with the definitive answer to this question. It’s a big deal.
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