Student loan experts give their advice on payments restarting for millions of Americans in October
Millions of Americans will see their expenses rise sharply this fall. Federal student loan payments are back after a pause of more than three years. Interest will start accruing again on 1 September and borrowers will make their first payments in October.
More than 40 million Americans have federal student debt, averaging about $37,000 a borrower. While Joe Biden’s loan forgiveness program was blocked by the supreme court earlier this year, other changes have been made to help borrowers chip away at their debt.
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