Millions of people struggle under the weight of students loans but the recent push to again extend the grace period for borrowers has some experts suggesting that even bigger relief could be coming down the pike.
Student loans have long been frustrating, confusing and controversial but the latest twist could mean big changes for a lot of people.
“We just have to see how it goes and roll with it,” Dr. Stacy Goldbaum said.
Goldbaum and her husband are constantly changing their budget while they navigate the challenges that come with student loan repayment.
“We were ready to roll and then all of a sudden they’re like, just kidding and pause you for three more months, which I’m extremely grateful for, but it’s always this one step forward, two steps back,” Goldbaum said. “Are we or aren’t we, and kind of a mental shuffle back and forth.”
The federal government has been helping people since the start of the COVID-19 pandemic by freezing payments and not charging interest. The relief was originally part of the CARES Act but it’s been extended several times, most recently this month. Now, student loan payments aren’t expected to start back until April at the earliest.
“This is definitely more of a surprise because the Department of Education and Biden administration, when they extended it last time, specified it would be the final extension,” said student loan expert Will Koster. #WakeUpCLT #StudentLoans #StudentDebt
Keep Reading: https://www.wcnc.com/article/money/student-loan-repayment-debt-relief-president-biden-interest-rates-loan-forgiveness/275-6ed51ec7-9381-43a3-b969-405e4abb7220