“We find that women borrowers tend to have multiple financial pressures that contribute to their student loan struggles,” said Betsy Mayotte, president of The Institute of Student Loan Advisors, a nonprofit that helps borrowers navigate the repayment of their debt.

“Over 63% of the borrowers that reach out to us for advice are women,” Mayotte added.

If you’re not enrolled in a program that leads to student loan forgiveness, you can find “great information” on the U.S. Department of Education’s website, Studentaid.gov, about the different opportunities, said Betsy Mayotte, president of The Institute of Student Loan Advisors, a nonprofit.

Mayotte said students should “read all the things. They can also contact their loan servicer to talk about their potential eligibility and steps they may have to take to qualify.”

The American Rescue Plan Act of 2021 made student loan forgiveness tax-free at the federal level through the end of 2025.

President Joe Biden wants to extend that policy indefinitely.

While the president continues to try to deliver on a sweeping federal student loan forgiveness plan, tucked into his 2025 fiscal-year budget is a provision that would shield forgiven education debt from federal taxes permanently.

Consumer advocates are in support of such a policy.

“Unfortunately, borrowers often experience significant stress as they worry about the tax bill that could come once their loan balance is forgiven,” said Betsy Mayotte, president of The Institute of Student Loan Advisors, a nonprofit.

While most private lenders have done away with student loan origination fees, the federal government still charges them. Federal student loan borrowers can face expenses of 1% to 4% of their total borrowing amount. President Joe Biden’s 2025 budget, released earlier this week, calls for the end of these fees.

The White House said on Friday it considers these expenses to be “junk fees,” defined as “hidden costs or surprise fees that companies and institutions include on customer or student bills, increasing their costs.”

Consumer advocates praised Biden’s efforts.

“By eliminating origination fees on federal student loans, borrowers should be able to borrow less to cover their costs,” said Betsy Mayotte, president of The Institute of Student Loan Advisors, a nonprofit.

According to the Education Department, about 40% of borrowers who owed a payment in October when payments resumed failed to make that payment by mid-November.

Borrowers won’t face late fees for a one-year grace period, but Betsy Mayotte, the president of the nonprofit The Institute of Student Loan Advisors, warned interest is still building.

“If the loan ends up defaulting, it’s going to be a big hit on your credit. Future debt that you need to take on — a mortgage, a credit card, a car loan — is likely going to have a much higher interest rate, and therefore cost you more,” she said.