Payments Tag

Today, student loan interest resumes for 43 million U.S. borrowers, with payments set to return starting in October.  It’s the primary time American borrowers — who owe a collective $1.6 trillion in student loan debt — will probably be expected to repay their loans since March 2020, when the Department of Education’s COVID-19 student loan forbearance program took effect.  And though the return of payments impacts Americans of all ages — 2023 data from Statista indicates that Gen X carries the most important average value of student loan debt, followed by Baby Boomers and Millennials — Gen Z is anticipated to soon overtake older generations in average debt because the cohort ages up.  “There isn't any doubt that the resumption of payments goes...