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News reports and studies show that student loan repayment amounts have been miscalculated for millions of borrowers who enrolled in Biden's SAVE income-driven repayment plan.
UM Financial Education Program director Andrea Janssen says first-time, full-time undergraduate students finish college with an average of $22,000 worth of loans.
UM Financial Education Program director Andrea Janssen says full-time undergraduate students finish college with an average of $22,000 worth of loans.
Student loans, student loan payment, student loan deadlines, loan service provider, Save Program, Fresh Start Program, student loan pause ending, financial coach
Risk people shouldn't take. >> the loans are still there and the repayment is still needed. >> reporter: failing to pay comes with serious consequences. those in default face wage garnishing and big credit score hits. but for now, the government says borrowers won't face those penalties if they miss payments. >> we know many of our borrowers are going to struggle to make payments, but we want to make sure that we're not sending their names to credit agencies. so we're going to hold them harmless for a year as they're getting back up. >> reporter: among longer term options for relief, see if yo...