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Education

How the pause on federal student loan repayments has helped borrowers find financial footing

In this May 17, 2018, file photo, new graduates line up before the start of the Bergen Community College commencement at MetLife Stadium in East Rutherford, N.J. Obtaining a college degree has increasingly coincided with ever-higher student debt loads. Since 2004, total student debt has climbed more than 540 percent to $1.4 trillion, according to the New York Federal Reserve. (Seth Wenig, File/AP)
In this May 17, 2018, file photo, new graduates line up before the start of the Bergen Community College commencement at MetLife Stadium in East Rutherford, N.J. Obtaining a college degree has increasingly coincided with ever-higher student debt loads. Since 2004, total student debt has climbed more than 540 percent to $1.4 trillion, according to the New York Federal Reserve. (Seth Wenig, File/AP)

The Biden administration extended a freeze on federal student loan payments this month. It’s the sixth extension in the two years since the pandemic began.

Alpha Taylor is one federal student loan borrower with a six-figure debt. He tells host Peter O’Dowd how the break from payments has helped him.

This article was originally published on WBUR.org.

Copyright 2022 NPR. To see more, visit https://www.npr.org.

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