Student loan relief ending for at least 1.6 million Floridians

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