May 16, 2022

College

Its all about the school

5 Options If You Can’t Afford Student Loans When They Restart

12 min read

The student loan payment freeze is ending soon, and federal student loan borrowers are expected to start making monthly payments again. In addition to payments picking back up, interest charges will resume on student loan debt, and collection agencies can seek a court order to collect on defaulted loans.

The reality for many borrowers, however, is that the pandemic changed their lives in countless ways, including financially. If you know you can’t afford student loan payments when they restart, keep reading to learn what you can do.

Disclaimer: President Biden announced on December 22, 2021, that his administration would be extending the student loan pause again until May 1, 2022. He had previously said the ‘final’ extension of the student loan payment and interest pause would end on January 31, 2022.

Read more: https://www.studentloanplanner.com/cant-afford-student-loans/

Feeling helpless when it comes to your student loans?

➡️ Check out our refinancing bonuses we negotiated: https://www.studentloanplanner.com/refinance-student-loans/
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Legal: Student Loan Planner is a financial coaching company and does not claim to provide financial advice on investment products. Refinancing federal loans causes the borrower to lose access to income-based repayment plans as well as the PSLF program. We may earn compensation from advertising partners when you click on links on our site. Student Loan Planner is not a debt settlement or debt relief company. We do not provide tax or legal advice.

#StudentLoans #StudentLoanRepayment #StudentLoanPlanner #StudentLoanTips #TravisHornsby

Source: Student Loan Planner

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