Tens of millions of Americans will soon be required to resume monthly payments on student loans. This week, the Biden administration announced that interest will resume on September 1, with the first loan payments being due in October.
The federal pause on student loan payments was first introduced during the height of the pandemic and was extended nine times over the past three years.
“I think with it being pushed back so many times, there was a feeling of that it was never actually going to start again," said Hannah Willow.
Willow is a recent York College graduate with around $32,000 in federal student loans. She says the pause allowed her to save enough money to pay some of her private loans and buy a house.
With debt payments restarting and the fate of the President's student loan forgiveness plan up in the air, Willow said it’s a stressful situation.
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