Student Loan Impact

As the student loan forbearance program comes to an end, Americans are terrified that resuming payments will force them into greater debt. That’s according to a new survey of student loan borrowers by digital personal finance company Achieve. Student loan repayments were put on pause in March 2020 as a response to the pandemic. Payments will resume in October. Nearly half of respondents are extremely or very stressed about resuming their payments, while 28% say they will have to take on new debt to manage their personal finances. 45% of respondents paid down other expenses rather than making advance payments on their student loans during forbearance, with 27% using their extra cash for mortgage or rent payments. More than 60%…