1 in 5 Student Loan Borrowers Could Struggle Once Payments Resume
During the pandemic, federal student loan borrowers got a reprieve from paying their debt month after month. But now that President Biden's student loan forgiveness plan has been shut down, millions of borrowers will have to start repaying their student debt come October. And that means a lot of people will have to make adjustments to their spending to allow for those payments.
But while student loan borrowers are getting a reasonable heads-up about their payments resuming, it may not be enough. The Consumer Financial Protection Bureau reports that a good 20% of student loan borrowers have risk factors that suggest they could struggle to keep up with their payments once they're required to do so. And that could lead to a world of financial hurt.
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Source Fool.com
