People also ask
Will you have to pay your student loans in September?
The U.S. Department of Education has extended the payment pause on federal student loans for the sixth time since the pandemic began more than two years ago. This time, borrowers have been told they won鈥檛 have to resume paying their bills until September. So, here鈥檚 what borrowers need to know.
Do student loans continue to grow with interest?
Yet holders of Federal Family Education Loans and private student loans are not covered by the policy, meaning their debt will continue to grow with interest. Borrowers who can afford to pay may opt to take advantage of the temporary suspension of interest to pay down their student debt鈥檚 principal.
How much student loan debt are you behind on payments?
Though people with more advanced degrees tend to take on more debt, they’re more likely to make their student loan payments on time. Of the former college students with less than $15,000 of outstanding debt, 21% are delinquent. However, only 17% of adults with $15,000 or more in loans are behind on payments. 1 锘?/div>Student Loan Debt: 2021 Statistics and Outlook
Why is student loan debt such a political issue?
The sheer size of student debt can be characterized as a weight on the U.S. economy as well as a burden on the millions of individuals who owe it. About 92% of student loan debt is backed by the U.S. government. 10 锘?That fact has made it a political issue.