What this means for your student loans
This data may be frustrating for many student loan borrowers. Even those who tried to pay off student loans during the Covid-19 pandemic still owe more than they initially borrowed. It’s important to understand several important parameters about temporary student loan forgiveness to place the data in context.This sounds obvious, but like any loan, a borrower will always owe more than the principal balance. This is true not only with student loans, but also with mortgages and personal loans too.
Whether you decide to pay off student loans during the Covid-19 pandemic or pursue an alternative strategy, make sure you understand all your options. Here are some popular strategies to save money:
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