Student loan payments start up again for most borrowers in October, but more than 800,000 people who have been paying for years are having their loans forgiven
Karin Engstrom, 82, poses for photos at home, Wednesday, Sept. 27, 2023, in Seattle. Engstrom recently had student loans forgiven. She's one of 804,000 borrowers who will have a total of $39 billion forgiven under a one-time adjustment granted by the Biden administration. Karin Engstrom thought she’d be paying off her federal student loans for the rest of her life.
Engstrom didn't immediately believe it when she saw her balances had been erased, but she eventually found a letter from the Federal Student Aid office dated August 28 that confirmed the cancellation was real. Like many borrowers who now qualify for cancellation, she had paid on them for decades, but had never received relief because of administrative and servicer errors.
“It was a burden,” she said, of the debt. “I couldn’t think of it all the time. It was just there in the background.”“It's a relief it's no longer hanging over me,” she said, adding that it means “hope for everyone else, that they can get out of this situation.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Utah expert provides guidance as student loan repayments set to resume in OctoberKUTV - After a three-year break, payment on government-funded student loans which were frozen at 0% interest since the pandemic, are due again starting Oct
Read more »
Student loan payments resume in October | Here's what you need to knowFor nearly 7 million federal student loan borrowers, next month will be their first time making a student loan payment.
Read more »
Student loans: Will a government shutdown change payment dates?Most borrowers with federal student loans have payments due in October.
Read more »
Gen Z, burdened by debt, face student loan payments for 1st timeStudent loan payments are resuming in October after a three-year pause during the coronavirus pandemic.
Read more »
Fight between two students ends with one trying to stab the other with pencilThe 17-year-old student tried, but failed, to stab the other student with a pencil.
Read more »
Do I still have to pay my student loans during a government shutdown?Resumption of student loan payments will hit just as the federal government shuts down.
Read more »