Updated with news of the extension of student loan payment pause until October 1, 2021 at the earliest, giving borrowers an additional eight months without making payments.
If you’re a recent college graduate, you may be facing unexpected challenges due to the ongoing pandemic. However, it’s important to remember that this is also a time of celebration!
You have successfully completed an important chapter in your life by finishing your education and are now ready to embark on your career path or pursue further studies in your field.
Managing Your Student Loan Debt in the Time of COVID
In addition to celebrating, it’s crucial to understand how to navigate student loan debt during these challenging times.
It’s a fact that recent graduates will be affected by student loan debt, which currently constitutes over $1.56 trillion of total consumer debt in the United States, making it second only to home mortgages.
Another important aspect is staying informed about any regulations that provide relief.