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Dollars And Sense: Unpausing Student Loan Payment

WAMU 88.5 | By Haili Blassingame
Published December 4, 2020 at 8:12 PM CST
A woman walks past a sign at the University of Southern California (USC) in Los Angeles, California where coronavirus cases have seen an alarming increase with more than 100 students in quarantine from cases originating in off-campus housing.
A woman walks past a sign at the University of Southern California (USC) in Los Angeles, California where coronavirus cases have seen an alarming increase with more than 100 students in quarantine from cases originating in off-campus housing.

More than 40 million student loan borrowers haven’t had to pay anything on their loans since March. These borrowers also haven’t accrued any interest, representing a rare chance for those saddled with such debt to save some money or make ends meet during a recession.

But this hold, offered as part of the coronavirus relief package, will end on January 31. Although Education Secretary Betsey DeVos extended the pause by a month, some still think the restart in payment is coming too soon. 

For this month’s installment of Dollars and Sense, our monthly personal finance series, we’re talking about student loan debt. 

How are borrowers preparing for when the hold on their student loans could end?

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Haili Blassingame