Tag Archives: restart

Borrowers waiting as May 1 student loan payment restart approaches

Payments on federal student loans are set to kick back in for roughly 37 million borrowers in just over a month. But with the May 1 end of the payment pause rapidly approaching, signals have been mixed on whether that deadline will be extended, leaving millions of borrowers in limbo with financial preparations. Payments on… Read More »

93% of student loan borrowers aren’t prepared to restart payments, survey finds

It’s been almost two years since most borrowers have had to pay their monthly student loan bill. And yet, 93% of them are not prepared to resume payments on May 1, according to a survey of more than 23,000 student loan borrowers by the Student Debt Crisis Center. “The payment pause has meant everything,” said… Read More »

Federal Student Loan Borrowers Should Prepare for Restart of Payments in January

Boston, Dec. 16, 2021 (GLOBE NEWSWIRE) — Millions of Americans have benefited from the March 2020 pause of repayment and interest accrual on federal student loans. However, the COVID-19 emergency relief will end on January 31, 2022, and the U.S. Department of Education will start collecting payments again. MEFA is advising federal student loan borrowers… Read More »

Student loan payments restart in February, but survey finds 89% of borrowers aren’t ready

About 9 in 10 fully employed borrowers said they are not financially secure enough to resume federal student loan payments in February 2022, according to a new survey. (iStock) Federal student loan payments have been paused until Jan. 31, 2022, as part of the CARES Act to protect borrowers from delinquency during the COVID-19 pandemic.… Read More »