- cross-posted to:
- news@lemmy.world
- cross-posted to:
- news@lemmy.world
Tens of millions of Americans with federal student loan debt have had a financial reprieve for more than three years as a pandemic-era repayment pause was extended multiple times since March 2020.
Now many face a new reality on Sunday, Oct. 1, when they are due to resume making payments, all while struggling with nagging inflation and rising interest rates.
More than 45 million borrowers together owe approximately $1.6 trillion, according to President Joe Biden’s administration, which tried to cancel up to $20,000 in student debt for tens of millions of eligible borrowers, only to have the Supreme Court kill the program in June.
They will find a way to destroy your credit on case you had any hope of purchasing anything with a mortgage \ loan in the next 7 years
Don’t worry, the insane cost of rent has already prevented most of us from being able to buy a house in the next seven years.