NEW YORK (AP) — Millions of Americans must start repaying their federal student loans again in October, with monthly payments averaging hundreds of dollars a month.
She'll put the $235 she was spending on her car payment toward her student loan, but that still leaves another $270 or so she'll have to reallocate or earn.
“If they were forgiven out of the blue, I'd be ecstatic.”The Supreme Court in July rejected a plan by President Joe Biden's administration to wipe away $400 billion in student loan debt.
According to credit bureau TransUnion, more than half of student loan holders added credit card debt during the pandemic.
The program erases remaining debts for federal student loan holders who work in public service while making 10 years of payments.
Persons:
Megan McClelland, She'll, “, ” Justin Cole, Cole, ”, I'd, Joe Biden's, McClelland, She's, It's, —, — McClelland, ” McClelland, Charles Schwab
Organizations:
Petaluma High School, Valuable, Target, Public, White, Sonoma, Associated Press, Charles, Charles Schwab Foundation, Inc, AP
Locations:
Petaluma, California, Rock , Arkansas, Boston, Sonoma State