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The Guardian - US
The Guardian - US
Business
Michael Sainato

‘There’s no way I can pay it’: Americans dread restart of student loan payments

Joe Biden Michael Chaney United States
Activists and students protest in front of the supreme court during a rally for student debt cancellation in Washington, DC, on 28 February.
Activists and students protest in front of the supreme court during a rally for student debt cancellation in Washington, DC, on 28 February. Photograph: Andrew Caballero-Reynolds/AFP/Getty Images

Many Americans are dreading the return of interest accrual and the restarting of their monthly student loan payments as a huge political fight over Joe Biden’s debt forgiveness plan rages on.

Americans have $1.635tn in federal student loan debt, held by 43.8 million borrowers. Some 26 million people applied or were automatically accepted for student debt relief under Biden’s plan before applications were suspended because of lawsuits launched by Republicans.

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