After nearly two and a half years of pandemic relief, federal student loan payments will restart after the pause expires Aug. 31 — unless it’s extended for the seventh time.
Economists like Kathryn Anne Edwards at the Rand Corp., a nonprofit global public policy think tank, say borrowers will likely feel the impact of inflation when payments restart, but it will hinge on an individual’s circumstances. “Borrowers haven’t paid in nearly two and a half years, student loan servicers got burned the last time they thought payments were going to resume, and there will be a lot of frustration among borrowers,” Kelchen says.Read: No matter your age, here’s how to tell if your finances are on the right track
One thing that’s critical to understand about cancellation, experts say, is you’re not being handed money.
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