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Millions of student loan borrowers have just one month left to figure out how they’re going to resume monthly payments on their education debt while the coronavirus pandemic is still crushing the economy.
Monthly payments for most federal student loans have been on pause since March, when the CARES Act gave 42 million borrowers relief during the coronavirus pandemic. For the more than 37 million of those borrowers that haven’t made a payment in months, the unprecedented break is coming to an end. The moratorium will lapse in December, meaning payments will resume again in January unless another extension comes soon.
In addition to monthly payments, the Department of Education paused accruing interest and stopped c…
Read the full article at: https://www.cnbc.com/2020/12/01/for-42-million-student-loan-borrowers-monthly-payments-resumes-january-.html