Federal student loan payments are set to resume in Jan. & the Student Debt Crisis Center estimates 9 in 10 borrowers are not financially prepared for payments to return. Our InvestigateTV team has expert advice on how to adjust your budget for the restart.
InvestigateTV - If you are among the 43 million Americans who will resume student loan payments next year, experts said now is the time to contact your loan servicer as help lines are expected to be clogged during the relaunch.said to start building payments back into your budget so you are prepared for January. “If you have been making payments this whole time, continue to do so,” Clark said.
Clark said now is also the time to reach out to verify your contact and banking information, as well as letting them know if you are worried about being able to make your payments.Clark explained that student loan forgiveness funds will be taken off of your total balance, then your payments will be recalculated. Most people will see a smaller payment.If you are still worried that you cannot make the payment, consider switching to anCopyright 2022 Gray Media Group, Inc. All rights reserved.
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