Student Loan Payments Are Back. Now What?
Consider This from NPR
NPR
4.2 • 6.2K Ratings
🗓️ 3 September 2023
⏱️ 12 minutes
🧾️ Download transcript
Summary
We put borrowers' questions to two experts: NPR Education correspondent Cory Turner, and Carolina Rodriguez, director of the Education Debt Consumer Assistance Program, a non-profit funded by New York State to help residents navigate repayment of their student loans.
Read Cory's list of 12 things every student loan borrower should know.
And if you're having an issue with your student loan servicer, Cory wants to know. Email him at dcturner@npr.org.
Email us at considerthis@npr.org.
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Transcript
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| 0:00.0 | Very soon, millions of Americans will be doing something they've never done before. |
| 0:12.1 | I think I have my login information for Mojila, is that he pronounced it? |
| 0:17.0 | I have no idea. |
| 0:18.0 | They'll be signing into their federal student loan accounts. |
| 0:20.5 | Let's see. |
| 0:21.5 | Continue. |
| 0:22.5 | To make an actual payment. |
| 0:24.2 | Oh God, I have so many alerts. |
| 0:28.0 | Sophie Hernandez, Simeon Needis, she's 26 years old. |
| 0:31.3 | When she graduated from Baylor University in 2020, then President Trump had already ordered |
| 0:36.6 | a pause on federal student loans. |
| 0:39.4 | It was early in the pandemic, and there were a lot of layoffs and a ton of economic uncertainty. |
| 0:44.9 | Trump extended that pause in August, and after President Biden took office, he extended |
| 0:49.4 | it too, again and again. |
| 0:52.7 | The three and a half years later, Sophie still hasn't made a federal student loan payment. |
| 0:58.1 | When she checks her balance, I have one for $3,500, it stayed exactly the same. |
| 1:03.9 | $2,000, $5,500, $3,000 in total. |
| 1:09.3 | Now the pause is ending. |
| 1:11.1 | Student loan interest began accruing again on September 1st, and payments will be due starting |
| 1:15.9 | in October. |
| 1:16.9 | I know it's so bad, but I do kind of do the ostrich bury my head in the sand about it because |
| 1:22.1 | it makes me spiral very easily. |
... |
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