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Dollars And Sense: Unpausing Student Loan Payment

A woman walks past a sign at the University of Southern California (USC) in Los Angeles, California where coronavirus cases have seen an alarming increase with more than 100 students in quarantine from cases originating in off-campus housing.
A woman walks past a sign at the University of Southern California (USC) in Los Angeles, California where coronavirus cases have seen an alarming increase with more than 100 students in quarantine from cases originating in off-campus housing.

More than 40 million student loan borrowers haven’t had to pay anything on their loans since March. These borrowers also haven’t accrued any interest, representing a rare chance for those saddled with such debt to save some money or make ends meet during a recession.

But this hold, offered as part of the coronavirus relief package, will end on January 31. Although Education Secretary Betsey DeVos extended the pause by a month, some still think the restart in payment is coming too soon

For this month’s installment of Dollars and Sense, our monthly personal finance series, we’re talking about student loan debt. 

How are borrowers preparing for when the hold on their student loans could end?

Copyright 2020 WAMU 88.5

Haili Blassingame

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