Archive for September 2023

As federal student loan forbearance concludes, a new survey by Achieve reveals that nearly half of borrowers are under significant stress. The forbearance, initiated in March 2020, aimed to reduce financial pressures during the COVID-19 pandemic. Yet, as payments are set to restart in October, borrowers face an economic backdrop of escalating inflation, high interest…

In March 2020, during the pandemic, the government implemented a pause on student loan payments, both deferring the payment of student loans and halting the accrual of interest. It was projected by higher education expert Mark Kantrowitz that this pause on student loan payments saved the average borrower about $5000 in interest. After a three-year…