Student loan repayments could return

• The pause has been in place since March 2020.

Why it matters: More than 1 million Virginians have some type of student loan debt, according to the State Council of Higher Education for Virginia.

• Plus, any recent graduate with student loans has likely never had to set up a payment plan, so SCHEV is encouraging borrowers to prepare now by visiting virginiastudentloanhelp.org.

By the numbers: 57% of recent graduates with a bachelor’s degree have student loan debt, per SCHEV.

• As do 36% associate degree graduates.
• The average balance of student loan debt in Virginia is $40,000.

What's next: A debt ceiling vote could come as early as today.

What we're watching: Separately, the Supreme Court is expected to issue a ruling in June on Biden's plan to forgive up to $20,000 in student loan debt, which would benefit nearly half a million Virginians.