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One of the biggest promises of the Joe Biden Presidential Campaign was to eliminate any and all student loan debt.

After the Supreme Court’s ruling over the weekend it currently appears that he will not be able to follow through on that promise.

In a 6-3 decision the Supreme Court struck down his student loan relief plan. President Biden went on to say that he will continue to pursue debt forgiveness through “a new path” that is “legally sound.”

If you have student loans, then here is what you need to know.

Interest will start accumulating again on September 1, and payments will resume in October.