Student Loan

Student loan payments are set to resume this October, giving Americans yet another monthly bill to stress about, and the impact is expected to set in early. “It’s going to quickly reverse all the progress that was made during the repayment pause, especially for those who took out new debt in mortgages or auto loans where they had the financial room because they weren’t paying their student loans,” Laura Beamer, who researches higher education finance at the Jain Family Institute, told the New York Times. Monthly student loan bills before the pandemic came in between $200 and $299, a serious chunk of change that borrowers have not had to budget around. A report by the Federal Reserve found that about…