I'm Nicole Lapin, the only financial expert you don't need a dictionary to understand.

It's time for some money rehab.

Do you know that four panel meme cartoon of a sleeping woman and her brain wakes her up

with a question?

Yeah, that was me and student loans.

We heard so much about them back in the fall, but recently, not so much.

So I had to ask, what is the current situation with student loans?

The answer is complicated.

Right now it's working its way through the court system, and there's a lot to unpack.

So let's start this update off with a little history, shall we?

All the way back in March 2020, the Secretary of Education under Donald Trump suspended student

loan repayments and stopped those loans from generating any interest under the Heroes Act.

The Heroes Act was passed post 9-11 to enable the Secretary of Education to alter student

loans so that members of the military who got called up or survivors of 9-11 wouldn't

be forced to pay back loans when their lives had suddenly been changed.

As long as the president declares a state of emergency, which Trump did on March 13, 2020,

the Secretary of Education can suspend or cancel student loans without going through what's

called a notice and comment period, which is basically an opportunity for the public to comment

on a law.

And you might be like, Lappin, do I really need this history lesson at all this information

to understand what's going on with student loans right now?

And the answer is, yeah, yeah, you need to understand what's going on here because the

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