Student loan payments officially resume Sunday after borrowers were let off the hook for more than three years by a pause initiated during the economic turmoil of the coronavirus pandemic.
Despite continued pushback from advocates and concerns about a government shutdown, the Biden administration is reactivating all student loan accounts, and more than 28 million borrowers now have to deal with repayments.
“It’s a sad day for student loan borrowers and for the country that student loans have to come back on, especially with the threat of a looming government shutdown, potentially on the same day. It’s just wild,” Natalia Abrams, president and founder of the Student Debt Crisis Center, said earlier this week.
Back in July, a Life and My Finances survey found half of borrowers say they don’t make enough to afford their student loan payments, while only 22 percent at the time had a plan on how to make their payments. ... Read More: The Hill