Federal Student Loan Payments Resume February 1, 2022: Are They Ready and Are Borrowers Ready?

"Although more borrowers are aware that payments are resuming, that doesn’t mean they’re ready for it. In the same survey by SDCC, 89 percent of fully-employed student loan borrowers said they aren’t financially secure enough to begin making their loan payments again, noting that the added expense will prevent them from affording other bills like rent, car loans and medicine. Over a quarter of respondents said that one-third or more of their income will go toward their loan payments, and one in 10 said loan payments would eat up half of their income." Read more here

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