Student loan relief ending for at least 1.6 million Floridians
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At least 1.6 million Floridians are bracing for student loan debt payments to resume in October for the first time since the pandemic began.
Why it matters: Americans with student loan debt tend to be younger and make lower incomes. They're spending a higher share of their income already, so an additional monthly payment will hurt, Axios Markets reporter Emily Peck writes.
Catch up fast: The Supreme Court struck down President Joe Biden's debt relief plan in late June, which would have forgiven up to $10,000 in loans for borrowers making under $125,000 per year or $20,000 for Pell Grant recipients.
Zoom in: Floridians owe more than $100 million in student loan debt, with the average borrower owing about $38,000 — fifth in the U.S. in both categories, according to the Education Data Initiative.
What's next: For now, student loans begin accruing interest again starting Sept. 1.
Go deeper: How to find student loan information before payments resume