Federal student loan payments are set to resume on October 1 with interest already accruing for borrowers in September. U.S. Under Secretary of Education James Kvaal joins Yahoo Finance Live to share the list of federal programs that will aid Americans in paying off their student debt, including"College costs now [are] not just an issue for a student but it's an issue for their families," Kvaal notes.
Kvaal also goes into detail about updates to FAFSA applications and the challenges that put borrowers at risk of defaulting on their loans.