KEY POINTS
  • The more than three-year-long pause on federal student loan payments is slated to finally conclude within months.
  • Consumer advocates and borrowers are worried about the transition, which will unfold while student loan forgiveness is still tied up at the Supreme Court.

Richelle Brooks' budget is already tight. She doesn't know what she's going to do when federal student loan payments resume in the fall.

The single mother of two has seen all her expenses rise over the last few years amid high inflation. "I go grocery shopping and spend $300 or $400 for food that'll last two weeks in my house," said Brooks, 35. Her mother recently moved in with her because she doesn't earn enough as an office manager to afford the rents in Los Angeles, where they live.