Pay Up! Thousands In New York Getting A Massive Bill
As we enjoy the good weather right now, there are some who are about to get some bad news as their student loans are going to be collected and that may be a big worry for thousands in New York State.
The COVID pandemic pause on payments for Federal loans is going to end after being pushed back eight times since it bebgan.
The Federal Government has started the process of figuring out the national debt situation, and, as a result, the process of figuring out ways to get some money back. It appears that one of the ways is to start to chase down student loan repayments.
CNN is reporting that:
The pause “shall cease to be effective” 60 days after June 30, the bill reads.
That’s roughly in line with the Biden administration’s plan to resume payments either 60 days after June 30 or 60 days after the Supreme Court rules on the separate student loan forgiveness program – whichever comes first. The justices are expected to rule in late June or early July.
Things will be getting interesting soon for former students. If you forget, or have forgotten, about your loan commitment, the bills will most likely be sent out within the next few weeks.