When do student loan repayments start? The debt ceiling deal gives a firm deadline
The job market is cooling but still pretty strong, so you may be able to find extra work. In the meantime, Betsy Mayotte, president of the Institute of Student Loan Advisors, a nonprofit based in Plymouth, Massachusetts, said individuals should reevaluate their expenditures and stop spending as though the debt is forgiven. She suggests borrowers set up interest-bearing accounts into which they can deposit amounts equal to their anticipated monthly payments. While the interest on those accounts can be beneficial, what’s more helpful is the practice of budgeting and forming a new routine around those payments, Mayotte said.