Summary of End of student loans grace period a potentially perilous time for borrowers
Summary of End of student loans grace period a potentially perilous time for borrowers
The source article:
The article discusses the end of the 12-month on-ramp period for student loan borrowers, which was implemented to ease the transition to making payments after a three-year payment pause during the COVID-19 pandemic. The period helped borrowers who are struggling to make payments avoid the risk of defaulting and hurting their credit score. With the on-ramp period and a separate program known as Fresh Start ending, and the SAVE plan on hold due to legal challenges, student loan borrowers who are struggling to afford their monthly payments have fewer options to avoid going into default.
The source article:
quoting nevent1q…pcakEnd of student loans grace period a potentially perilous time for borrowers
The 12-month grace period for student loan borrowers ended Sept. 30. The "on-ramp" period helped borrowers struggling to make payments avoid the risk of defaulting and hurting their credit score.
https://www.cbsnews.com/news/student-loans-grace-period-end-borrowers-potentially-perilous/
The article discusses the end of the 12-month on-ramp period for student loan borrowers, which was implemented to ease the transition to making payments after a three-year payment pause during the COVID-19 pandemic. The period helped borrowers who are struggling to make payments avoid the risk of defaulting and hurting their credit score. With the on-ramp period and a separate program known as Fresh Start ending, and the SAVE plan on hold due to legal challenges, student loan borrowers who are struggling to afford their monthly payments have fewer options to avoid going into default.