Worried You Can't Make Your Student Loan Payments This October? Here's Why Forbearance Isn't as Great an Option as You Think
It's been a long time since many federal student loan borrowers had to make payments on their debt. During the pandemic, federal student loan payments were paused to give borrowers relief at a time when society was shuttered and the economy was in turmoil.
Meanwhile, many federal student loan borrowers were hoping to have their debt wiped out as part of President Biden's broad student loan forgiveness plan. But the Supreme Court ruled against that plan, and so now millions of borrowers will have to gear up to start repaying their debt in October after a reprieve that lasted more than three years.
Image source: Getty Images.
Source Fool.com
