Over half of student loan borrowers racked up credit card debt during the payment pause—now experts worry about 'shock'
Publishing timestamp: 2023-08-08 15:35:12
Summary
The article discusses the upcoming resumption of student loan payments for borrowers in the United States. It highlights concerns that many borrowers may struggle to make their payments, especially while balancing other debts. The Biden administration has implemented some safeguards, including a 12-month grace period where missed payments will not be considered delinquent. The article advises borrowers to prioritize payments that will affect their credit score and explores income-driven repayment plans as options for more affordable payments.
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Keywords: transunion, personal finance, education,