Recently, the U.S. Supreme Court voted to strike down President Biden’s Student Loan Forgiveness program. This means that there will be no forgiveness given to anyone holding student loans, even if you applied last December. Borrowers should be prepared to start repayment on their loans starting in October. Although we have seen many pauses over the last 3 years, due to a recent law passed in Congress to address the debt ceiling, it is prohibited for the pause to continue. Payments will begin starting in October which means that many will have to change their budgets to allocate funds to pay back their student loans. The education department also wanted to remind borrowers that although payments begin in October, interest will begin accumulating starting on September 1st. It is best to begin to prepare for repayment starting now. Making sure that there is enough money allowed in your budget for your loans will decrease your chance of delinquency or default. I will post some tips and tricks on how to add your student loan payment to your budget and how to keep from defaulting on your loans. Visit your student loan servicers website to make sure your repayment method is the best for your budget. For more information on the different ways to repay, please visit my article “It’s Payback Time”. In the meantime, think about setting up autopayment to have your loans taken out of your bank account on me every month.