'A train wreck coming': Americans brace for the return of student loan payments
Student loans will be due for millions in August for the first time in years, due to the pandemic, despite a Supreme Court challenge to Biden's debt relief plan. Jamilla Vanbuckley would like to buy a home one day. A correctional counselor in New York City, Vanbuckley has been living with her parents and tucking as much money as possible into her savings account. But by late summer, she expects a new expense to enter her monthly budget – gradually paying off the $68,000 she owes in student debt. "I'm gonna have to dip into my savings to start paying back on August 29," she said, mentioning the day that payments for direct federal student loans are set to resume. "And now that kind of hinders the goals I had set for myself for the next couple of years." Vanbuckley is among the 37 million borrowers who have not been required to pay their student loans since March 2020 due to legislative and executive action during the pandemic. Younger Americans brace for cha...