Nearly 8 Million US Student-Loan Borrowers to See Interest Charges Again

The Education Department will soon begin to charge interest on student debt for an estimated 7.7 million borrowers who’ve been in legal limbo since a repayment plan created by President Joe Biden was blocked in court.

The interest charges for people enrolled in the Saving on a Valuable Education, or SAVE program, will begin on Aug. 1, according to an Education Department official, although, for now, borrowers do not have to resume making loan payments.