The past few years have been rocky for student loan borrowers, with loan forgiveness options announced and taken away at a whiplash speed. And it’s not likely to get easier anytime soon.
Many borrowers are already beginning to face the consequences. This week, the Federal Reserve estimated that more than 15% of all student loan borrowers are behind on their debt after a pandemic-era grace period ended. Late student loan payments could damage borrowers’ credit scores.
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Borrowers enrolled in the Saving on a Valuable Education plan have been left in limbo for months amid challenges to the repayment program, which…
