STUDENTS LOAN PAYMENTS ARE COMING DUE AGAIN

The pause on federal student loan repayments in place since the start of the coronavirus pandemic is about to end. Interest that had stopped accruing on loans will begin again as of Sept. 1. Monthly bills will start up again in October. Meanwhile, borrowers have been enrolling in the Biden administration's new repayment plan, called SAVE. The goal is to make payments more affordable so that students don’t leave school struggling with debt. Approximately 43.4 million people had received student loans as of June for a total of about $1.63 trillion in outstanding loans, according to the U.S. Department of Education. That’s about 600,000 more loan recipients and $17 billion more in loans since last year.

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