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Student loan payments will resume soon. Here’s what you should do now

Come this fall, borrowers will again have to make room in their lives and budgets for monthly student loan payments. It’s been a good run. The U.S. Department of Education first gave borrowers the option of pausing their bills without interest accruing in March 2020. Read the full article for what to know and how to prepare for the Fall.

The $1.6T student debt problem: The student loan freeze ends this fall. Here’s what readers and experts say.

More than 40m Americans have student loans, owing an average of $37k per borrower — or a total of $1.6T, per new stats from the Department of Education.

During the pandemic, Americans with federal student loans have been able to avoid making monthly payments and accruing interest.

But that freeze is set to end on September 30.

Betsy Mayotte, TISLA’s president, says loans have caused many borrowers to delay homeownership, marriage, children, and retirement. (Some people even worry about marrying people with debt.)

Education Department to cancel $500 million in debt for former ITT students

The Education Department announced Wednesday it’s wiping out $500 million in student loan debt for some 18,000 borrowers who attended ITT Technical Institute. Betsy Mayotte, TISLA’s president welcomed the news by saying “They’re being proactive about it– I think it’s a great indication that the department is looking to streamline this pretty onerous and sometimes difficult process for defrauded borrowers.”