How Financial Institutions Should Prepare for the Return of Student Loan Repayments

With President Biden’s student loan relief plan invalidated by the Supreme Court, borrowers will resume payments on their student loans this September. We have already seen an increase in delinquencies at the start of 2023, and without further debt relief, we will likely see another uptick when student loan payments resume. Both financial institutions and borrowers must plan and prepare for the resumption of student loan payments to avoid late payments and delinquency.