The End of the Student Loan Pause: What You Need to Know

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.6 • 3.4K Ratings

🗓️ 2 June 2023

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

The student loan pause is coming to an end. A moratorium on student loan repayments has been in place since the start of the pandemic, but starting Sept. 1st, millions of borrowers will be required to start making payments on their loans again. What does this mean for borrowers? In this episode, we'll discuss what borrowers can do to prepare, including an in-depth look at the variety of repayment plan options. We’ll also talk (in general terms) about how to handle ANY surprise new monthly bill – whether it’s a medical bill, a family member who needs ongoing financial help, or a student loan repayment that’s about to restart. For a list of Sources and Resources mentioned in the show, go to https://affordanything.com/episode444 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Attention everybody with federal student loans.
0:03.8	Looks like September 1st is going to be the big day, meaning the day you start writing checks again.
0:10.4	What's up with student loans? What's happening with the moratorium,
0:14.2	on repayments, what's happening with any plans for canceling student loans?
0:18.0	We're going to dig into all of that in today's first Friday bonus episode.
0:24.0	Welcome to the Affordable Care Podcast.
0:27.0	The show that knows you can afford anything but not everything.
0:31.0	I'm Paula Pat, your host.
0:33.0	Normally we are a weekly show, we come out every Wednesday,
0:36.0	though I'm contemplating changing the day of the week.
0:39.0	Sort of thinking about Tuesday, but eh, that's neither here nor there.
0:43.0	Normally we come out every Wednesday, but once a month, on the first Friday of the month,
0:47.0	we have a first Friday bonus episode.
0:50.0	Today, the day that I am recording this is Friday June 2nd, 2023.
0:56.0	I just came back to afford anything full time as of yesterday.
1:01.0	June 1st was my first day back at work after completing a one-year fellowship at Columbia University.
1:08.0	What a perfect time to start chatting about student loans.
1:14.0	It's the beginning of June, the start of summer,
1:17.0	doesn't like going into summer break thinking about the mountain of debt that you still need to repay.
1:23.0	Okay, what is going on?
1:25.0	First of all, the new debt ceiling deal reached by President Biden and by Congress
1:30.0	have two major impacts on student loans.
	...

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