Student-loan payments are paused through September, with national savings of $82.7 billion on interest payments.
A report by Upgraded Points found this saved each borrower an average of $2,001 in interest.
A report released on April 5 by Upgraded Points — a travel research group — found that since student-loan payments were originally paused under the CARES Act in March, the average interest saved per borrower was $2,001, and the national average for principal paused per borrower was $34,971.
The state that saved the most interest overall was California at over $8 billion (10% of the national total), with New York slightly behind at $5.2 billion in interest saved.
The report noted that while national averages and total state savings were high, "on an individual borrower level, average borrowers only saved a couple thousand dollars in interest over the 12 months.
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