What to Know as the Pause on Student Loans Is Set to Expire

College students heading to campus this fall may be confused by the recent headlines about student debt, and wonder: Does any of this affect me?

Will the pause on student loan repayments that started early in the pandemic be extended? Will some student debt be erased?

“It’s a very confusing time,” said Regan Fitzgerald, manager of the Pew Charitable Trusts’ project on student borrower success.

Here’s a rundown of what’s known and unknown, and what students should consider.

The pause on payments and interest on most federal student loans is scheduled to end on Aug. 31. An extension would have less impact on students still in school because they’re not yet repaying their loans, financial aid experts say. (Even in-school borrowers, though, are benefiting from the pause on loan interest.)

And while it’s still unclear whether the Biden administration will act to forgive some student debt, any relief may be limited. It may be targeted to borrowers with income below certain…

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This article was written by Ann Carrns and originally published on www.nytimes.com