The end is near for the three-and-a-half-year COVID-19-induced pause in federal student loan payments.
Starting Oct. 1, repayments re-start, along with the accumulation of interest.
Plenty has changed since 2020. Some loan providers have gone away, others have reorganized, and there are new repayment plans for low-income borrowers.
According to the Biden administration, federal student loan debt is at $1.6 trillion and rising for more than 45 million borrowers.
The administration is moving forward to establish a new student loan forgiveness strategy to replace the president’s plan struck down by the U.S. Supreme Court in June.
According to a recent NPR report, many borrowers are having trouble trying to reach their student loan providers.
For the next year, the Biden administration is trying to ease borrowers into repayment by not reporting them to the credit agencies if payments are late or missed altogether.
How much student loan debt do you have and how do you plan to resume paying it? Submit your response below and KPBS might contact you for a future story.
_
