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Student loan payments are due in October for the first time in three-plus years – but for the next 12 months, borrowers will be able to skip payments without facing the harsh financial consequences of defaulting on their loans.
Even though the Federal Reserve didn’t hike its benchmark interest rate on Wednesday, it didn’t lower it either.
Roughly 28 million borrowers will soon be required to pay their monthly student loan bill for the first time since a pandemic-related pause went into effect in March 2020. Interest on federal student loans restarted on September 1 and monthly payments will begin in October.
Even though the Federal Reserve didn’t hike its benchmark interest rate on Wednesday, it didn’t lower it either.
Even if you’re not entering a job with that “retirement” perk, there are ways you can start thinking about retirement now that will make your life significantly easier.