This month, student loan payments will resume for the first time in three years.

Payments were put on pause at the beginning of the COVID-19 pandemic.

The repayments come after President Joe Biden's plan to cancel up to $20,000 of student loan debt for federal borrowers was struck down by the Supreme Court.

Anchor Stef Manisero spoke with Wall Street Journal personal finance reporter Julia Carpenter Saturday on NY1 about how borrowers can financially prepare to resume payments.