New research from the New York Fed estimates that student loan borrowers benefitting from the interest-free pause are expecting pain whenever the pause ends. “Our analysis suggests that the scheduled discontinuation of student debt forbearance on August 31 will likely increase financial hardship and delinquency rates,” the authors at the […]
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Student loan payment pause eases financial burdens on some borrowers
David Ormsby remembers the stress of trying to make ends meet as he juggled repaying his student loans and paying for child and living expenses. He requested several deferrals of his monthly student loan payments because he couldn’t afford them, he said. “It came down to (the) house payment or […]
Biden extends payment pause on federal student loans until September
President Joe Biden announced Wednesday another extension of the payment pause on federal student loans, this time until September. This is the sixth prolongment of the break, which has spanned more than 24 months and two presidencies. Borrowers have saved nearly $200 billion during that period, the Federal Reserve has […]
Biden Should Decide Student Loan Payment Pause And Student Loan Cancellation Today
President Joe Biden (Photo by Julia Nikhinson-Pool/Getty Images) Getty Images President Joe Biden should decide whether to extend the student loan payment pause and enact wide-scale student loan cancellation today. Here’s what you need to know — and what it means for your student loans. Student Loans Student loan borrowers […]
Student Loan Pause – What Financial Tips to Do
Before 2021 ended, the White House announced extending the student loan pause. This is great news because millions of student loan borrowers are still coping with the impacts of the pandemic. If you’re one of them, this gives you “break time” before resuming payments. The question is, what should you […]
Here’s what you should know about the latest student loan pause extension | Personal Finance
The pursuit of higher education has been an integral step in achieving the American Dream since James Truslow Adams coined the phrase in 1931. He defined the American Dream as the hope for “a better, richer and happier life for all our citizens of every rank.” Collectively, though, people in […]