risk people shouldn t take. the loans are still there and the repayment is still needed. reporter: failing to pay comes with serious consequences. those in default face wage garnishing and big credit score hits. but for now, the government says borrowers won t face those penalties if they miss payments. we know many of our borrowers are going to struggle to make payments, but we want to make sure that we re not sending their names to credit agencies. so we re going to hold them harmless for a year as they re getting back up. reporter: among longer term options for relief, see if your employer offers repayment assistance programs and consider save program, which would adjust monthly bills based on borrowers income. josie is weighing her options, but says it s going to be tough either way. at this moment, it s either come up with money to pay for these now student loans that i m having to pay, or make it to where my business doesn t function as it needs to. reporter: one of
The Supreme Court's rebuke of President Joe Biden's student loan forgiveness program, in a 6-3 decision on June 30th was a financial blow to millions of American borrowers. Learn: 4 Ways To Use.